How Outdoor Space Dictates Apartment Prices in Poland?

Outdoor spaces like balconies, gardens, and terraces are a significant feature in Poland's real estate market, with 85% of apartments listed for sale offering such amenities. Data from Otodom reveals that balconies are present in 60% of listings, gardens in 12%, and terraces in 13%.

Buyer demand for these features is strong, particularly for balconies, which are sought after by nearly 190,000 users on Otodom's platform. Purchasers are twice as likely as renters to filter their searches for apartments with balconies.

Interestingly, new apartments without any outdoor space command the highest average price per square meter at 14,700 PLN. This is attributed not to the lack of a balcony itself, but rather to the typical characteristics of such units: they are often small studio apartments located in dense city centers where outdoor space is less feasible. The combination of small square footage and prime location drives up the price per square meter, even though the total price of the apartment might remain relatively accessible.

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It sounds surprising, but the explanation is quite simple. New apartments in high standard, but without outdoor space are mostly studio flats located in the very centers of large cities, where dense development often does not allow for a balcony. Since the square footage is small, the total price of such an apartment remains relatively affordable. In turn, if the total price is low, and the square meters are few, the rate per square meter is high, especially for new apartments usually created in a really high standard. So, it is not the balcony or its absence that dictates the price, but the location and small square footage.