The completely new experience of confinement and the generalization of telework will leave their mark. They will notably modify the search criteria of French candidates for home ownership. Many of them already want to move away from the heart of metropolises to afford a house with a garden or, when they stay in the city center, to prefer apartments with a terrace or balcony.
Outdoor spaces which, it is true, have enabled millions of city dwellers to make their confinement bearable and to enjoy the first beautiful days of spring without leaving their homes. Enough to envy when, according to INSEE, five million French people have lived under house arrest in overcrowded accommodation.
A determining search criterion
The demand therefore risks exploding after weeks of confinement. “Previously, having a balcony or terrace was of course a bonus, but the absence of an exterior was not an unacceptable factor in the purchase. Today, this is becoming a determining research criterion, ”confirms Thomas Lefebvre, scientific director of the Best Agents platform, specializing in the valuation of real estate.
Problem, in France, “800,000 apartments in main residences have an outdoor space”, or only 6% of the stock of collective housing, reports Meilleur Agents. And in Paris, only one apartment in five is sold with a balcony or terrace. To the point of becoming a real luxury in the city. “In the 11 largest cities in France that we have studied, an outdoor space increases prices on average by 8.8%,” says Thomas Lefebvre.
An increase far from being negligible. Thus, for an apartment of 80 square meters, it would cost 22,000 euros more in Toulouse (Haute-Garonne), 29,000 euros in Nice (Alpes-Maritimes), 31,500 euros in Lyon (Rhône) and up to… more than 75,000 euros in Paris. An average that hides deep disparities. Between cities first. “A terrace is proportionally twice as valuable in Marseille (Bouches-du-Rhône) than in Paris because it benefits much more in a city that enjoys strong sunshine,” says Thomas Lefebvre. Conversely, the impact on the price is low in Lille (Nord). “
An increase that goes from simple to double between the first and the last floor
Similarly, the happy owners of an apartment offering an outdoor space will be able to enhance their property all the better as it is located high in the building. Nothing to see, in fact, between a narrow balcony too narrow to put a table overlooking a noisy street and a large terrace on the top floor offering calm and open views. Top Agents did the math: the impact of a good-sized balcony or terrace is + 6.9% between the first and third floors, + 8.5% on the fourth or fifth floor and climbs at + 14.1% on the top floor, synonymous with calm and light.
More surprisingly, the bonus in terms of price is very important for an exterior on the ground floor (+ 12.5%). Explanation: “in town, it is often a ground floor with a larger surface area than a simple balcony and which allows you to have a real corner of greenery at an affordable price since there is a discount for the ground floor, ”notes Thomas Lefebvre. An alternative to a detached house with a garden so dear to the hearts of the French
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