Balcony Apartments Outsell Properties without Balcony
In this part we present how balcony apartments can outsell properties both in Buda and in Pest. According to experts a balcony can raise the value of the apartment even with 1.89 million HUF.
Balcony Apartments in Buda:
- the value of the balcony/terrace is the highest here
- there is more chance for the apartments to have a nice view or overlook green areas
- the price of the balcony/terrace is more than 46 % of the Sq. M price of the inner space
Increasing the space with 1 m2 can also increase the value of the property with 600.000 HUF whereas a balcony or a terrace increased with 1 m2 can raise the price of the property with 270.000 HUF. It means that from two apartments of the same size the one with a balcony of a typical size - 7 m2 - can outsell with 1.89 million HUF the one without a balcony.
Balcony Apartments in Pest:
- balconies can be cheaper if they overlook busy streets or only the neighbouring apartments at lower floors
- balconies at upper floors overlooking green areas are more in demand
- 1 m2 of the balcony/terrace can raise the price with 22% of the Sq. M price of the inner space in case of average inner-apartments in Pest
Considering apartments in Budapest the Sq. M price of the balconies is more than the 32% of the Sq. M price of the inner spaces. In case of two apartments of the same size the one with a balcony of 7 m2 can worth 1 million HUF more than the one without it.
