Are properties with a balcony, terrace or garden in Paris always overpriced?

But will this overvaluation still be justified in 2025? The context has changed, and so has the market. Demand remains strong, but buyers are paying closer attention to what they are actually paying for—and what they are getting in return.

In this article, we take stock: what types of outdoor spaces are most sought-after in Paris? Are they systematically overpriced? And above all, how can you assess their true value without falling prey to the “love at first sight” effect?

1. The big comeback of outdoor spaces: is the Covid effect still going strong?

The health crisis has profoundly changed the expectations of Parisian buyers. The need for air, light, and space has become a priority, relegating other previously dominant criteria, such as proximity to transportation, to the background. In 2020 and 2021, properties with outdoor space saw their value skyrocket, sometimes up to 20% above market value for a simple, well-exposed balcony.

Today, the sense of urgency has subsided, but the appeal of outdoor space remains very real. It is no longer a comfort criterion, but has become a selling point. In many districts, apartments with terraces or gardens continue to be in high demand, especially if they offer a combination of quiet, good exposure, and privacy.

The figures confirm this: according to data from Paris notaries, properties with outdoor space are still selling faster than average and their price per square foot remains 10 to 30% higher depending on the type of space and location. But is this premium always justified? We will explore this in the following sections.

2. What types of outdoor space are most sought after in Paris?

In Paris, not all outdoor spaces are created equal. Some types of spaces have become highly coveted, while others remain secondary in terms of purchasing criteria. The hierarchy is clear... and the prices reflect it.

At the top of the list are open-air terraces, ideally located on the top floor with unobstructed views. These properties are very rare and often sell for high prices, frequently exceeding $20,000 per square meter in sought-after neighborhoods (7th, 6th, Marais, northern 16th). Private rooftops—even more exceptional—reach prices comparable to those of luxury properties. Feel free to read our article on best practices for buying an apartment with a terrace in Paris.

Private gardens, usually on the ground floor, appeal to families or those looking for peace and quiet. In residential neighborhoods such as the 15th, 12th, and 16th arrondissements, some large apartments with gardens are quickly snapped up, provided they are not overlooked and there are no nuisances.

Long balconies, typical of Haussmann-style buildings or 1930s properties, remain highly sought after, especially if they face south or west. A simple 5-10 m² balcony in a good location can justify a 5-10% premium.

Finally, small balconies or loggias, especially in recent buildings, are less attractive if they are poorly exposed or not very usable. Their value then depends greatly on the size and overall comfort of the apartment.

In terms of location, the most sought-after districts for outdoor space are, unsurprisingly, those that combine charm, light, and unobstructed views: the 6th (Jardin du Luxembourg), 7th (Eiffel Tower, Invalides), 18th (Montmartre), 11th (Roquette, Oberkampf), 16th north, 5th, and certain pockets of the 20th and 12th.

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3. The limits of outdoor space in Paris: added value or overpriced?

While outdoor space undeniably adds comfort and character to a Parisian property, it does not always translate into real added value. In some cases, the premium asked by sellers far exceeds what the property can objectively offer.

The first factor to consider is actual use. A 2 m² balcony overlooking a dark courtyard, or a terrace facing an office building, will be of little interest on a daily basis—even if it is mentioned first in the listing. Similarly, some gardens are more of a nuisance (noise, maintenance, humidity) than a pleasure, especially on the ground floor of an old building.

Second common limitation: co-ownership rules. Sometimes, an outdoor space presented as “private” is for exclusive use: in this case, it remains a common area. This implies restrictions on use and shared maintenance costs. However, exclusive use is a real guarantee of quality for an outdoor space. You need to be more cautious about outdoor areas where there is no real right to the land. This lack of clarity can have a significant impact on the value of the property, particularly in the event of resale.

Finally, the immediate surroundings are just as important as the size. An outdoor space that is poorly oriented, noisy, difficult to access (via a bedroom or a cramped kitchen), or located in a poorly maintained condominium loses much of its appeal. In such cases, paying 10 to 20% more simply because a space exists “on paper” does not always make sense.

In summary: an outdoor space is not a luxury in itself. It should be analyzed as an additional room in its own right, with its qualities, flaws, and above all, its real value in use.

4. How can you accurately value a property with outdoor space?

Valuing a property with outdoor space in Paris requires going beyond simple comparisons of price per square foot. This is because a balcony, terrace, or garden cannot be included in the calculation as traditional living space: they must be weighted, analyzed, and carefully verified.

The general rule used by professionals is to apply a weighting to the outdoor space of between 30% and 50% of the value per square foot of the indoor space, depending on the quality of the space (size, exposure, privacy, accessibility, view, etc.).

➡ Example: in a neighborhood where the average price is $12,000 per square meter, a well-exposed 10-square-meter balcony could be valued at between $36,000 and $60,000, depending on its characteristics.

But this valuation is not enough. You also need to check the official documents:

• the co-ownership agreement, to find out the exact rights (exclusive use or actual ownership);
• the title deed;
• the minutes of general meetings, to identify any restrictions (prohibition of pergolas, planting, etc.);
• and, in the case of a garden, ensure that it is not subject to an easement or does not belong to the city of Paris.
  

Another point to watch out for is practical access. A magnificent terrace that is only accessible from a bedroom or a narrow kitchen loses much of its value. Similarly, an outdoor space that is difficult to develop (sloping ground, noise, poor exposure) does not justify a high premium.

If in doubt, consult a real estate hunter or an expert: they will be able to objectively weigh up the value of the outdoor space and the fairness of the asking price.

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Conclusion

An outdoor space in Paris is a real bonus. A sunny terrace, a quiet garden, or a long balcony can transform the experience of a home, offering rare additional comfort—and increasing its appeal when it comes time to sell.

But this space must also have real practical value. Not all outdoor spaces are created equal, and the premium price asked is not always justified. It is better to take a step back, analyze the property's characteristics in detail, and not be guided solely by emotion or pretty pictures.

At Parlez-moi de Paris, we assist each buyer in this detailed assessment, identifying the real gems — those that combine location, quality, and consistent pricing. So that the exterior is a real asset... and not a disappointment hidden behind an attractive listing.