What happened. Since March 17, 2020 – the start of the first lockdown – apartment prices with outdoor space have risen an average of 4.3%, while those without it have risen just 0.6%, according to a study conducted for the Meilleurs Agents service, reports Boursorama.
The reasons. Urban dwellers who have spent most of their time at home for more than a year want to breathe fresh air. If they’re not ready to move out of town, there’s only one solution: buy a property with a balcony or terrace, even if you have to pay more for it.
Quote. “We’re seeing real change on the way out of lockdown. The desire for open space has increased,” notes Barbara Castillo Rico, in charge of economic research at Meilleurs Agents. – “People are now willing to pay more for access to open space.
And they used to be more expensive. Before the health care crisis, an apartment with a terrace or balcony sold on average 8.2% more expensive than one without. That’s the data from a Meilleurs Agents study conducted in 11 major French cities on 65,000 apartments sold since January 1, 2019.
What is it now? In the second quarter of 2021, that difference rose to 11.6%, an increase of 3.4 points in 15 months. “Even if this criterion was important for the French even before the health crisis, today it has become really key,” analyzes Castillo Rico.