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Automatic appraisal serves as a first approximation. Our algorithm carries out a real estate appraisal at market price with the data of the latest offers in your area, also taking into account the characteristics you include about the property, 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.
The prices of the houses vary as we have said depending on the neighborhood. In Barcelona, the neighbourhoods with the highest price per square metre are Sant Gervasi, Les Corts and Eixample. Within neighborhoods, prices also vary depending on the district. Even sometimes crossing a street can represent a relevant price change.
Valuation of homes at market price
Most relevant features of a home for its valuation
In Barcelona, depending on the neighbourhood 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. It is not only the physical characteristics of the apartment in question that must be looked at. These are the most relevant characteristics to take into account in the price:
Location
The location is an essential part of the price, as it will determine the demand. The value of land is the most important part of the price of real estate, especially in large cities such as Barcelona. A property located next to Passeig de Gràcia is not worth the same as in Poble Séc, for example.
The neighbourhood services also influence the price:
Schools, hospitals, public transport, markets and supermarkets, parks and green areas, etc. Everything influences demand. Sometimes, the proximity of some services such as a funeral home, a landfill, a nightclub, among others, can affect the price of the property.
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.
Construction's year, characteristics, common areas and conservation
The valuation varies depending on the type of home. A single-family home with a swimming pool does not have the same value as a townhouse with a communal area, without a garden or an apartment. The valuation takes into account the typology, qualities and state of conservation. In the case of acquiring an apartment, it is very relevant if the property has an elevator or the possibility of installing it.
If the property 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 four-sided house 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, doorman, etc. All this adds value, but also represents an additional expense in community fees.
When it comes to 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 that are more than 50 years old pass a technical inspection, known as the I.T.E. (TECHNICAL INSPECTION OF THE BUILDING).
An architect assesses the state of the building’s structure, accessibility, all its common areas and its facilities. To make the report, he visits all the common areas as we have said and approximately 80% of the homes in the building. In this report it indicates the measures to be carried out for the good 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 Ministry of Housing of the autonomous community can then issue a certificate of suitability of the building. This inspection must be carried out every 10 years.
The accessibility of the building is very relevant. If it has a lift and the entrance is adapted for the disabled or if, on the other hand, it does not have a lift and there is no way to install one. In addition, the energy efficiency of the building, façade insulation, whether it has solar panels, etc., will also have to be considered.
Surface and distribution
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 dwellings and bathrooms and toilets is relevant in the assessment. For the valuation and comparison with witnesses, the number of bedrooms in the property is taken into account. In general, for the same area, a property with several bedrooms is usually valued more than a loft or open-plan space. On the other hand, properties with unused spaces such as corridors 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.
Quality especifications
A good assessment will take into account when the renovation was done and the qualities of the finishes. Logically, if the apartment is original, the price will not be the same as for 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 done and the qualities of the finishes. Logically, if the apartment is original, the price will not be the same as for a new construction or a flat that was renovated a year ago.
Nowadays, customers are more demanding and take into account the energy consumption and emissions of the property. The European community regulated that in order to put a building up for sale, it was necessary to have an energy efficiency certificate. This issued by a competent technician, architect or engineer, will show the energy consumption.
Exterior or interior, with terrace or balcony.
In general, clients value homes with a garden, balcony and terrace more. Exterior flats with unobstructed views and lots of light are more in demand than indoor ones.
Height, views and orientation
In general, high-rise, south-facing homes are the most valued. As long as they have an elevator. Therefore, mountain-side homes, with a south orientation in Barcelona, are more valuable. If they also have unobstructed views and are bright, even more so
Renovated, brand new, unrenovated
Although there are clients for all tastes, a new build or completely renovated property is much more valued. When the renovation is already many years old, sometimes it is almost not taken into account and the apartment loses a lot of value.
Energy Performance
It is becoming more and more relevant in the price of the property. Customers are more demanding and take into account the energy consumption and emissions of the property. From the European community, the regulations require you to have an energy efficiency certificate to sell a property. This issued by a competent technician, architect or engineer, will show the energy consumption. The type of heating and windows that the property has is assessed. How they are oriented. The type of windows, whether they are camera windows or not. PVC, wood or aluminum. In the future, in addition, the regulations will require a minimum energy rating to be able to sell.
To have the final value, all factors have to be taken into account, not only the characteristics, but also the closing prices of the last sales of homes similar to yours, and the current stock of properties for sale in the area. The current demand is also relevant. That’s why it’s interesting to know how many similar properties are selling 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 sale or homes that have a tourist licence that deserve a specific expert valuation.
If you decide to sell your house or need an appraisal to accept an inheritance before a 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 selling price. Price is one of the most significant factors in successful trading.
