Real Estate & Art de Vivre
Having a balcony, terrace or garden has become a key criterion for many buyers in the wake of lockdown.
Many Parisians spent lockdown dreaming of those few square feet of exterior space accessible directly from their home. So much so that an exterior seems to have become THE main criterion when it comes to property searches, even taking precedence over surface area in some cases.
[...] Property experts are unanimous: an exterior will create added value on the post-COVID market, especially in Paris and its inner suburbs. “Gardens and terraces are increasingly in demand”, explains Richard Tzipine, Managing Partner of BARNES. “Properties with these assets will go on the market at higher prices than others”.
The trick is knowing where to find the biggest terraces, but also at what cost?
A survey by Price Hubble exclusively unveils and summarises the price of just such a ‘luxury’ in an article in Le Parisien, for example:
For a 60 sq.m three-room apartment on the 5th floor, for sale at €10,000/sq.m, the start-up has calculated that one sq.m of balcony terraces costs €5,100/sq.m for 5 sq.m (€25,500), €3,900 for 10 sq.m (€39,000) and €3,300 for 20 sq.m (€66,000).
© Le Parisien - published on Barnes International Realty on 26/04/2020
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