What this calculator does
Price per square metre divides a property’s purchase price by its floor area, giving a figure that can be compared across properties of different sizes on a like-for-like basis. This price per square meter calculator also works the calculation the other way, showing the implied total price at a target rate you enter, which is useful when comparing a listing against a benchmark rate for the area.
This is the metric equivalent of price per square foot, used in most countries outside the United States. The two are not interchangeable without a unit conversion, since one square metre is roughly 10.76 square feet, so a rate quoted per square foot needs converting before it can be compared directly against one quoted per square metre.
The formula
Divide the purchase price by the floor area in square metres to get the price per square metre. To find the implied price at a target rate, multiply that target rate by the floor area.
| Term | Meaning |
|---|---|
| Price per square metre | Purchase price divided by floor area: price ÷ m². |
| Floor area | The total area of the property being valued, in square metres. |
| Implied price | What the property would cost at a chosen target rate per square metre, given its actual floor area. |
The inputs explained
| Field | What to enter |
|---|---|
| Purchase price ($) | The purchase price, or listing price, being assessed. |
| Floor area (m²) | The floor area of the property, in square metres. |
| Target price per m² for comparison ($/m²) | A target or benchmark rate per square metre, used to work out an implied price for comparison. |
When to use it
Comparing two properties of different sizes
A larger property at a higher total price is not automatically worse value; price per square metre strips out the size difference and compares the two on rate alone.
Checking a listing against a local benchmark rate
If a local market rate per square metre is known, entering it as the target price shows what the property should cost at that rate, which can then be compared against the actual asking price.
Assessing a renovation or extension against area added
Comparing the cost added by an extension against the resulting increase in floor area, expressed as price per square metre, shows whether the work has added value in line with the local rate.
Worked examples
Every figure in the tables below is produced by this page’s own calculator at build time, so the numbers and the tool always agree. Select any row to load that scenario.
How price per square metre changes with purchase price at a fixed floor area
A fixed 167 m² floor area, across a range of purchase prices.
| Purchase price | Price per square metre |
|---|---|
| $300,000 | $1,796.41/m² |
| $500,000 | $2,994.01/m² |
| $750,000 | $4,491.02/m² |
| $1,000,000 | $5,988.02/m² |
| $1,500,000 | $8,982.04/m² |
| $2,000,000 | $11,976.05/m² |
How price per square metre changes with floor area at a fixed purchase price
A fixed $450,000 purchase price, across a range of floor areas.
| Floor area | Price per square metre |
|---|---|
| 50 m² | $9,000.00/m² |
| 100 m² | $4,500.00/m² |
| 150 m² | $3,000.00/m² |
| 167 m² | $2,694.61/m² |
| 250 m² | $1,800.00/m² |
| 400 m² | $1,125.00/m² |
Questions
What is a good price per square metre?
It depends entirely on the local market, property type and location, so there is no universal benchmark. The useful comparison is against similar properties in the same area, or against a specific rate you already know applies locally.
How does this differ from price per square foot?
They measure the same idea using different units of area. One square metre is about 10.76 square feet, so a rate in one unit needs converting before it can be compared directly against a rate given in the other; see the price per square foot calculator for the imperial version.
Does floor area include garages, balconies or outdoor space?
That depends on how the floor area figure being used was measured, which varies by region and by listing. Check what is included in the floor area you enter, since mixing an internal-only figure with one that includes outdoor space will distort the result.
Can this be used for commercial or rental space, not just a sale price?
Yes, the same division works for any price or rent figure against floor area, such as an annual rent per square metre, as long as the price entered matches the period or basis you want the rate expressed in.
For the imperial equivalent, see the price per square foot calculator. To work out the floor area itself before pricing it, use the square metre calculator.