Real estate in Paris: where to find a terrace or a balcony, and at what price?

PriceHubble unveils the map (and price) of terraces in Paris!

After several months of confinement and for those who wish to stay in the capital while benefiting from an outdoor space, PriceHubble has carried out an in-depth analysis of the real estate offers published in Paris during the last 12 months (32,478 offers published on the main real estate portals (for individuals and professionals) between April 30, 2019 and April 30, 2020, in Paris).

Which districts have the highest proportion of properties with a terrace? What are the construction years that most often offer some outdoor space? But above all, how much does it cost to afford a small balcony or a large terrace in Paris?

Location: aim for the 16th and 15th arrondissement

Over one year, the 16th arrondissement tops the Parisian arrondissements for which apartments with a terrace or balcony have been published on the market. The 15th and the 17th complete this top three.

On the other hand, if we look at the proportion of apartments with a terrace or balcony for each arrondissement, buyers will have the best chance of finding their happiness in the 15th (where 31% of the advertisements published have a terrace or a balcony), 16th (28% of ads) then tied for 12th and 19th arrondissement (26% of ads).

Size: target the 8th arrondissement

Having a terrace or balcony is a plus, but not all terraces are created equal!

When we look at the sizes of terraces, there are very large disparities. On the Paris scale, it is interesting to note that two thirds (64%) of the Parisian terraces on the market in the past 12 months measured less than 9m2, and almost one third (27%) less than 5m2. Conversely, 2% of the offers published in Paris provided the happy buyers with an area of ​​more than 50m2.

To find the most spacious terraces, buyers should head to the 8th arrondissement where the median size is around 10m2. Then come the 1st, 4th, 14th, 15th and 16th arrondissements where the median surface of the terraces and balconies is 8m2.

Price: for the cheapest terraces in Paris, aim for the 20th

At the end of this analysis, a first conclusion: the larger the terrace, the less it costs per square meter. Thus, for an apartment at 10,000 € / m2:

• The 5m2 terrace costs € 5,100 / m2
• The 10m2 terrace costs € 3,900 / m2
• The 20m2 terrace costs € 3,300 / m2

In terms of ranking of the different arrondissements, not surprisingly, the 6th, 1st and 7th arrondissements come out on top. A 5m2 terrace costs almost € 42,000 in the 6th arrondissement, and it takes more than € 107,000 for a 20m2 terrace (more than € 5,000 / m2).

For the most affordable terraces in Paris, buyers will prefer to turn to the 20th, 13th or 19th arrondissements, where the 20m2 terrace will cost them “only” € 55,000.

As Loeiz Bourdic, Director of PriceHubble France explains, “there are many more terraces in Paris than we would imagine! 21% of apartments sold in one year benefited from an outdoor space. An in-depth study of prices per square meter revealed that in Paris, the adage “the smaller the surfaces the more the square meters are expensive” was true for terraces: per square meter, a 20m2 terrace costs less than a 5m2 terrace.”

"For those who can no longer consider living in Paris without an outdoor space, remember that in some districts, a 20m2 terrace practically costs the price of a second home in the countryside. It is also a safe bet that these terraces which were already scarce and expensive before containment will experience exponential demand in the coming months. Prices are likely to soar. ”

If you would like to receive the full analysis (available in French only), get in touch with us here !

Have a look at our article on the latest developments on the real estate market in Paris and around in 2021.