What should you keep in mind when valuating a property?
What should you keep in mind when valuating a property?

Are you paying a fair price for your home in the sun, or is the owner punching above their weight with the asking price? Try using these 5 parameters to find out…

1. Location: One important factor when calculating the price of a property is the area it’s in – coastal and city centre homes will be more expensive than rural ones. What local services are there nearby, like schools, shopping centres and public transport? As useful as these are, they can also raise the property price.

2. Surface area: The interior and exterior surface area of the property, including garden and parking spaces, should be measured – the bigger the area, the higher the price. Also, consider the distribution of the space – how many bedrooms, bathrooms, etc.? Different uses of the space will be more attractive to different types of buyers and so mean a different likely asking price.

3. Preservation of the property: How well preserved is the property? Note the state of the building materials, the flooring, windows, plumbing, heating … in short, anything you can think of! If it’s in a shabby condition, it should be cheaper, but elements such as air conditioning may be in high demand for the region and so raise the asking price.

4. Age of the property: Properties depreciate over time, so older houses may be cheaper. Indeed, a property of just 5-years-old will be 85% of its new-build price. After 50 years this goes down to 30%. However, if the property has been renovated recently, this will negate these stats and increase the property price.

Valuation made easy

5. Use a price estimator: Another way of assessing the value of a property is to use a price estimation service, like the one available on our website in Italian or an estate agency. For a small fee, the automatic system or estate agent will use the property details and those of similar local properties to give an estimation of the sale and rental prices of the property over time, saving you all the legwork.