An appartment with terrace in Paris
Adding a sense of privilege, terraces elegantly prolong an apartment or a house, providing an intimate glimpse of the town or horizon. These coveted outdoor areas are seen as a luxury which comes at a high premium in the capital. Focus on these assets whose appeal and rarity inevitably enhance a property's value…
A terrace conveys a certain idea of privilege, that of enjoying privacy without being cut off from the world, but also that of maintaining a certain distance while contemplating the city in panoramic mode from one's home. Increasingly regarded as a source of well-being, terraces are attracting rising demand in Paris, as confirmed by Benoit Vitu, founder of the Terrasses et Jardins agencies : "It is a growing market, with new properties always turning up, and ever more enquiries. Since the first agency dedicated to this type of property opened in 1999, success has been on the cards as we are meeting a genuine need. Parisian buyers want to benefit from their own outdoor area. Owning a terrace or garden comes at a price, but it is always an added value and thus a sound investment. Many clients are even prepared to do without a third bedroom, a dining-room or a parking place to benefit from a terrace. Most demand comes from Parisians, as foreigners looking for a pied-à-terre are less interested in this asset that requires a certain amount of up-keep". In Paris, a city with a vast number of Haussmann buildings and others much older, terraces are very rare : "Apartments with terraces are found in properties built from the 1950's onwards and modern residences. Over the past 19 years, we have sold only four Haussmann apartments with terraces ! On the other hand, apartments in new developments are almost always extended by outdoor areas".
A property boasting a terrace thus often bears a premium, evaluated by means of several criteria, as explained by Caroline Guerrier, manageress of the Agence Varenne Rive Gauche : "An apartment on an upper floor, for example, offering a good-sized terrace accessed directly from the reception room, benefiting from a sunny outlook and enjoying a clear view of Paris and its landmarks, may well be considered as an exceptional property whose price will correspond to the upper bracket within its area. We recently sold a sublime apartment pegged at 30,000 € per sq.m in the Gros Cailloux neighbourhood, with a terrace of over 100 m2 offering an unimpeded view of the monuments of Paris. An outdoor area is always a bonus whose value is reflected either in a higher price per sq. metre, or in a weighting of its surface area (usually 1/3), which is added to the overall surface area of the house or apartment. A town house that we are currently offering for sale at the very heart of Passy in the 16th arrondissement benefits from outstanding attributes. In a quiet location and sheltered from view, it boasts not only a terrace but also a garden, two manicured outdoor areas offering open views and beautifully oriented facing south-west".
