premium for higher floor

Maintenance is usually higher too so I would argue that if there is no major change in view, there should be discount. Not sure what actually happens though.

lo888 brings up a good point, and I would take it further. What percentage higher is the maintenance?

Example, if 2a the same size as 4a has a maintenance of $1000. And 4a has a maintenance of $1035. The building established a value difference of 3.4%. Now an apartment may be finished better than another etc., but it would offer a little guidance on it's value difference.

kiz, it's a great question. In general, higher floors are more desirable, even if there are no other discernible differences, but would likely come at less of a premium than if there were better views, outdoor space, condition of the unit, etc. I think it really depends on the building, and as such it's hard to give a specific percentage, especially in light of lo888's point on maintenance. In practice, I've seen 1-2% premiums assuming no other differences, but that's definitely a small sample size. 2nd floor is also pretty close to street level, which dissuades some buyers.

I think the new developments give a very skewed sense of how floor # affects price.
During boom times developers have gotten away with adding a set amt as floor goes up.
In looking at resales, it seems the floor # seems to be much less relevant unless you are talking about wide open views, park views etc.
I saw a couple of apts recently where the view from high floor apts is completely closed in by other apt buidlings. To me, such an apt on the 5th floor or 18th floor has the same value since the view is essentially the same, even worse on the higher floor since the maint is higher as pointed out above.