Is a Balcony Worth it?
This brief overview examines why apartments with a balcony or a terrace are great business opportunities for developers and investors. Apart from satisfying customer wants and needs, the construction projects with balconies and terraces are more profitable. Needless to say it is one of the most important factors for the investors.
Strict Rules Affect the Following Parameters:
- built-in capacity of the site
- height of the building
- floors
- constructed building with parts taller than one meter: it is prescribed what percentage they can occupy on the lot
- the maximum size of the gross space of each floor
Benefits of Balconies
- 1.5 meter of the balconies do not have to be counted in the built in area if the balconies are placed above 2 meters
- the area of the balcony and the uncovered terrace does not need to be counted in the gross floor area
- by adding balconies and terraces extra marketable spaces can be gained
Stiff Land Prices Can Be Spared
Turnover of property developments can be improved by adding balconies and terraces especially in expensive areas where the average cost per balcony square meter is also very high. Thus investors can get extra income and can save costly land prices because balconies do not need to be counted into the floor area as opposed to inner spaces. A balcony is found to have a positive effect on the value of a property.
In the next part we will have a look at how balconies and terraces can influence the value of properties both in Buda and in Pest.
