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Tips on how to value the price of a flat |
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If you need to estimate the value of a flat there are some key factors that can be of help.
When estimating the value of a property it may be helpful to compare it to properties for sale or recently sold in the neighborhood, with similar characteristics. According to "Qué Casas!" (4th of April 2007), there are also some key factors that have an influence on the estimated value of a flat: - The quality of the construction made: quality of the material, the foundation, structure and refurbishing done on buildning.
- On the façade, the brick (ladrillo) is highly valued.
- Installations: Recently installed elevators, garage, community area and storage room raise the value of the property.
- Interior or exterior: An exterior flat can be worth up to 10% more than an interior flat.
- The higher up, the better: The value of a flat on the second floor is approx. 2% higher than a flat on the first floor, and continues to raise the higher up in the building the flat is situated. The difference in value between a ground floor property and an attic may be considerable.
- Supply and demand: The supply and demand are concepts that influence the estimation value of a property, always depending on the area in question.
- Surroundings: Public transportation, shops, parks and services do also influence the value of the property.
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