Properties - VON POLL REAL ESTATE

Anyone who has ever been involved in buying or selling a residential unit is familiar with the confusing differences in square footage.

Living space (also known as net space): The living space of a building unit is the area that can be entered or used: in other words, the gross area without walls. This only includes the area inside the house; terraces, gardens, and balconies are not taken into account.

Gross area: The gross area is the area of an apartment including the interior and exterior walls. This is therefore the built-up and developed area. The thicker the walls, the larger the gross area. Similarly, the number of walls also increases the gross area.

Retail space (also sales area): Anyone who wants to buy or sell a residential unit must first calculate the retail space. This is calculated from the gross area—i.e., the total area of an apartment including walls—plus coefficients. Rooms such as basements, garages, or additional areas such as gardens, balconies, or terraces are only partially included in the retail space, as they represent added value.

The gross area plus these coefficients therefore equals the retail or sales area. Multiplying this by the price per square meter—which in turn is based on the location, setting, and other factors relating to the quality of living—gives the effective price. Garages or parking spaces are often added to the price as a lump sum, i.e., they are not calculated using coefficients.

Conventional area: The conventional area is the area required to apply for subsidies from the relevant authority. The conventional area is made up of various components. First, the living space of the apartment is increased by 25 percent. In addition, 25 percent of the balcony area is taken into account. For loggias and unheated conservatories, 50 percent of their area is added to the conventional area. Basement areas are taken into account at 30 percent, while 60 percent of the garage area is included. Open parking spaces are included in the conventional area at 30 percent. In addition, 25 percent of the area of open pergolas on the ground floor is taken into account. If the terrace is exclusively available to the apartment in question, 15 percent of its area is included in the conventional area. The attic is included at 30 percent, provided it does not meet the requirements for use as living space in accordance with hygiene regulations. However, only the part of the attic with a clear height of more than 1.50 meters is included. Rooms in the attic and basement are considered living space if they meet the minimum requirements for residential use in accordance with hygiene regulations. In condominiums, certain common areas are not included in the conventional area of the individual apartments. 

When it comes to real estate in general, buying and selling property, or working as a real estate agent, many questions often arise. Feel free to contact us at any time!

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