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