The confinement recalled the joys of having an exterior in the city, beyond the added value it brings to housing. But how is the price premium linked to its presence calculated?
A balcony or terrace. Regardless of its size, an exterior is a strong point for accommodation, especially if you live in a small area as is often the case in Paris. The PriceHubble start-up simplifies the search for those who want to enjoy the outdoors without leaving the capital, say Les Echos.
To calculate the cost of a balcony or terrace, it has developed a real estate estimation algorithm, which is based in particular on the tax transactions database (DVF). She also looked closely at 32,000 ads. Then, the company carried out simulations for a 60 m² apartment located on the fifth floor. She then calculated a price per square meter based on the hypothesis of the absence of an exterior, the presence of a 5 m² terrace or balcony, then a 10 m² and 20 m² terrace.
A variable average price depending on the size
The result is no exception to the prices of the Paris real estate market. As proof: the smaller the surface area of the exterior, the higher the price per square meter. In the case of an apartment at 10,000 euros / m², it takes an average of 5,100 euros / m² for a terrace of 5 m². A price that increases to 3,900 euros for a 10 m² surface and to 3,300 for 20 m².
In the most expensive districts, like the 6th, a 5 m² terrace flirts with 42,000 euros, and you have to pay 107,000 euros for an exterior of 20 m². The same surfaces will be much more affordable in the 20th, 13th and 19th arrondissements where the 20 m² terrace will be around 55,000 euros.
According to the start-up, the most spacious exteriors would be located in the 8th arrondissement where the median surface is 10 m². Then follow the 1st, 4th, 14th, 15th and 16th arrondissements where the median surface of the terraces and balconies is 8 m².