Automatic appraisal serves as a first approximation. Our algorithm carries out a real estate valuation at market price with the data of the latest offers in your area, also taking into account the characteristics that you include about the home, for the valuation.
The price is influenced by the characteristics of the property, but the supply or inventory of properties for sale at any given time is also relevant. If there is a lot of supply, logically the competition is greater, and prices tend to go down. If there is little supply, in an area of high demand like Barcelona, prices rise.
Housing prices vary as we have said depending on the neighborhood. In Barcelona, the neighborhoods with the highest price per square meter are Sant Gervasi, Les Corts and Eixample. Within neighborhoods, prices also vary depending on the district. Sometimes even crossing a street can represent a relevant price change.
In Barcelona, depending on the neighborhood in which the house is located, the price varies greatly. The value of the land where the property is located has a great impact on the price. You don’t just have to look at the physical characteristics of the apartment in question. These are the most relevant characteristics to take into account in the price:
As the Americans say Location, Location, Location. Ubicación,Ubicación,Ubicación.
Location is an essential part of the price since it affects directly to demand. The value of the land is the most important part of the price of real estate, especially in large cities like Barcelona. A property located next to Passeig de Gràcia is not worth the same as in Poble Séc, for example.
The neighborhood services also influence the price:
Schools, hospitals, public transportation, markets and supermarkets, parks and green areas, etc. Everything influences demand. Sometimes, the proximity of some services such as a funeral home, a municipal dump, a nightclub, among others, can cause the property price to be affected.
The location then marks the sale price, and is a determining factor in the purchase decision, since the demand in a good location is more stable and will facilitate future sales.
The valuation varies depending on the type of home. A single-family home facing four winds with a swimming pool does not have the same value as a semi-detached house with a communal area, without a garden or an apartment. The assessment takes into account the typology, the qualities and the state of conservation. In the case of purchasing an apartment, it is very relevant if the property has a lift or the possibility of installing one.
If the home belongs to a community and it has common services, it will affect both the sale price and the conservation and maintenance costs. For example, a house with four winds can be located in a golf club, which gives it added value. A multi-family building can have a swimming pool, gardens, party room, tennis court, concierge, etc. All of this adds value, but also represents an additional expense in community fees.
When it is a multi-family building, the qualities of the construction and the state of conservation of the building are also assessed. With the new building law, buildings older than 50 years undergo a technical inspection, known as the I.T.E. (BUILDIGN’S TECHNICAL INSPECTION).
An architect assesses the state of the building’s structure, accessibility, all its common areas and its facilities. To carry out the report, visit all the common areas as we have said and approximately 80% of the homes in the building. This report indicates the measures to be carried out for the proper maintenance of the building. Depending on the deficiencies found, the community of owners will have deadlines to carry out the works indicated by the technician. Serious deficiencies must be corrected as soon as possible (3-6 months) so that the housing department of the autonomous community can then issue a certificate of suitability for the building. This inspection must be carried out every 10 years.
The accessibility of the building is very relevant. If it has an lift and the entrance is adapted for disabled people or if, on the other hand, it does not have lift and there is also no way to install one. In addition, the energy efficiency of the building, insulation of facades, whether it has solar panels, etc. will also have to be considered.
The price of the property is directly proportional to its surface area. It also influences whether it has annexes such as parking spaces or storage rooms.
The number of homes and bathrooms and toilets is relevant in the valutationt. For the valuation and comparables selection, the number of bedrooms available in the property is taken into account. In general, for the same surface area, a property with several bedrooms is usually valued more than a Loft or open-plan space. On the other hand, properties with wasted spaces such as hallways have less value.
Thus, for the same area, a property with 3 bedrooms and two bathrooms has more value than the same area with only 2 bedrooms and a bathroom, for example.
A good valuation will take into account when the renovation was carried out and the quality of the finishes. Logically, if the apartment is original, the price will not be the same as that of a new construction or a home that has undergone a comprehensive renovation.
The quality of the finishes can also make a certain difference in the price of a property, as well as its energy efficiency. A good assessment will take into account when the renovation was carried out and the quality of the finishes. Logically, if the apartment has not been renewed in years, the price will not be the same as a new construction or an apartment that was renovated a year ago.
Nowadays clients are more demanding and take into account the energy consumption and emissions of the property. The European community regulated that to put a building up for sale it was necessary to have an energy preformance certificate ( EPC). This issued by a competent technician, architect or engineer, will show the energy consumption.
In general, clients value homes with a garden, balcony and terrace more. Exterior apartments with clear views and lots of light are more in demand than interior ones.
In general, high flats, facing south, are the most valued. As long as they have lift. Thus, mountain-side, south-facing homes in Barcelona are more expensive. If they also are sunny with clear views will be even more expensive.
Although there are clients with a veriety of preferences, a new construction or completely renovated property is much more valued. Old renovation works are hardly taken into account in valuation and the apartment loses a lot of value.
It is becoming more and more relevant in the price of the property. Clients are more demanding and take into account the energy consumption and emissions of the property. From the European community, regulations require having an energy performance certificate to sell a property. This certificated issued by a competent technician, architect or engineer, will show the energy consumption. The type of heating and the windows that the property has are checked. How they are oriented. The type of windows, whether they are chambered or not. PVC, wood or aluminum. In the future, regulations will also require a minimum energy rating to be able to sell.
To have the definitive market price, all factors must be taken into account, not only the characteristics, but also the closing prices of the latest sales of homes similar to yours, and the current stock of properties for sale in the area. Current demand is also relevant. That is why it is interesting to know how many similar properties are being sold per month in your neighborhood and how many units are for sale.
In addition, there are special cases such as unique homes,leased homes for sell or homes that have a tourist license that deserve a specific expert valuation.
If you decide to sell your house or need an appraisal to accept an inheritance at the notary, do not hesitate to contact us. One of our real estate professionals will visit the property to carry out an appraisal with all the necessary information. We help you set the right sales price. The price is one of the most relevant factors to be successful in the operation.
