Since the first confinement, terraces and balconies have become decisive search criteria for many buyers. Many city dwellers have realized the importance of having access to an outdoor space, a real breath of fresh air when our mobility is limited.
Owning a balcony or a terrace are the new trend
Considered a luxury during confinement, balconies and terraces have since been particularly sought after by the inhabitants of large cities. A phenomenon that really "boomed" after the first confinement and which seems to continue today.
A craze for balconies and terraces after the first confinement
From the very first confinement, city dwellers who had a balcony or terrace were able to enjoy the outdoors without having to leave their homes. Lunch outdoors, a break in the sun between two telecommuting sessions, changing one's mind by taking care of a few green plants... A real luxury that made this period of confinement more bearable. It also triggered the envy of those who were not so lucky.
Which led to an evolution of the search criteria
Although apartments with an exterior have always been popular, many real estate agents have noticed a real evolution in their clients' search criteria. Owning a balcony or terrace has now often become a key requirement, even if it sometimes overshadows the other features of a home. In order to have an exterior, some buyers are ready to turn to a smaller surface area so that their real estate project is in line with their budget.
Balcony and terrace, services that drive up prices
As a direct consequence of this infatuation with balconies and terraces, properties owning them have seen their value increase. However, this price increase is not uniform.
An increase in prices for properties with a balcony or terrace
On average, a balcony or a terrace increases the price by almost 10% depending its size, the location of the property and its direct view. However, this impact is to be nuanced according to the geographical area and the possibility of taking advantage of this outdoor space.
Prices correlated with surface and location
The consequence on the prices is to be weighted according to the size of the outside space. Indeed, the larger the outdoor space is, the more it is valued. A 3m2 balcony or a terrace of 10m2 will not have the same impact on the selling price as a green terrace of 40 m2. While the top floors are very popular, the lower floors are generally less popular, except for the garden level.
