Incorporating balconies on premium properties adds 10% value

Luxury homes with balconies tend to be more valuable on the Portuguese housing market, fetching prices 10% higher than residences without them, according to data from idealista.

The luxury real estate market is becoming increasingly demanding in terms of quality, location, design, space, and sustainability in housing and a veranda or balcony has ceased to be a mere architectural detail, becoming an extension of the house itself, an outdoor space that has become essential, especially in denser urban centers.

Balconies have gained importance, especially after the pandemic period marked by long periods of confinement within four walls.

These outdoor spaces have become a functional and experiential extension of the home, particularly in urban apartments, where a small urban garden can be created to enjoy moments outdoors and feel closer to nature, more often than not with great views.

This is why homes with balconies tend to stand out in the market and, in many cases, justify paying higher prices of up to 10%.

Source: Idealista; Credit: Look Studio on Magnific