BALCONY OR WITHOUT BALCONY?

Did you know that certain projects do not include the balcony in the floor area stated in the title?

For example, the property titles of a known condo in Makati do not include the balconies of the units. For a two-bedroom unit, the size of the balconies can be 14 sqm, which is larger than a typical parking slot (12.5 sqm). Given the current price per sqm in Makati, that additional 14 sqm can significantly impact the selling price of the unit.

So, what’s more appropriate? Should balconies be added to the total floor area of the unit or not?

It depends on who you ask. Buyers typically prefer not to include the balcony in the total floor area since it allows them to negotiate a lower total contract price due to the smaller listed meterage. Conversely, sellers would prefer to include the balcony to increase the floor area and, consequently, the selling price.

From my perspective, balconies should be included in the official size of the unit. Firstly, it is more common for developers to count them. Secondly, the balcony is indeed usable space. [Interestingly, another developer even includes a "drying cage" on the rooftop of the condo as part of the total measure.] The only drawback is that including the balcony in the measure also increases your share of the association dues as well as real property taxes.