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5 Factors that determine the value of a property

Sometimes the foreign buyer does not understand the price differences between some properties and others. This article explains some factors affecting prices.

The economic and financial crisis in Spain led to a substantial reduction in housing prices. If there is a good time to buy property here, it is certainly present. However, the fact that prices have dropped does not mean that all properties have similar prices. There are objective factors that determine the value of a property.

Some of them include:

New construction.

The new buildings will have more value than the second hand for obvious reasons. In addition, now in Spain urbanistic promotions have great quality in its buildings and taking into account criteria such as energy efficiency or finished.

The time of sale.

Heating the housing market in a given area can condition a homeowner to sell their property because of this you will get a value greater than the cooling of the market.

Therefore, at the present time, if an area has experienced some improvement in the sale of properties, it is understandable that prices have also risen compared to a few years ago.

Appraisal.

Although the valuation is mandatory to acquire a mortgage, have a specialist analysis of terrain also helps clear the unknown value of a property. The appraised value will always give a good reference of the target value of the property.

Insurance.

The location and characteristics of a property insurance may condition you have to pay for housing. Hence these should be more limited to the actual features of the property.

Overvaluation.

Overvalue a home often lose interest to potential buyers and, in turn, extends the sale of the home for longer, causing it to lose value. In this regard, many sellers in Spain still cling to the idea of selling their properties to a close after its acquisition price.

The situation, however, has changed, and the value of these properties is usually much less than when they were acquired, although in some cases it was not so long ago. In such situations, there is usually a great room for negotiation.

Barceló Real Estate, all kind of new construction properties for sale in Torrevieja.

If you are looking for newly built properties on the Costa Blanca or Costa Calida, in places like Ciudad Quesada, Torrevieja, Guardamar del Segura and Santa Pola, check out our catalogue of properties. Barceló Real Estate is part of the Barceló Group, a firm with over 20 years experience in the real estate sector.

Get in contact with us. You can phone us, send us an email, fill out the form on our website or stop by our offices in Ciudad Quesada.


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