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Real estate appraisal is an essential process that determines the fair value of a property.
 12

  APR

Real estate appraisal is an essential process that determines the fair value of a property.

In Spain, over 70% of real estate transactions are carried out after a precise appraisal of the property. Therefore, knowing the three main characteristics to carry out an appraisal is essential.

Firstly, having a detailed knowledge of the local market is crucial. The average price of housing in Spain in 2022 was 1,893 euros per square meter, but prices vary depending on the location. For example, San Sebastian and Madrid are the most expensive cities in Spain, with over 4,000 euros per square meter, while in Valencia the average price per square meter is 2,075 euros. To carry out a precise and realistic appraisal, it is necessary to have a detailed knowledge of the local market.

Secondly, it is fundamental to have technical knowledge and experience in construction or civil engineering to assess the property properly and determine its value. In Spain, 10% of homes have structural problems, and 64% of homes sold in 2022 were second-hand and may have maintenance issues. With this knowledge, potential problems in the property can be identified and a fair price can be established that takes into account necessary repair or maintenance costs.

Lastly, it is important to use appropriate appraisal tools to carry out a precise appraisal. 73% of homeowners who use online appraisal tools adjust the selling price based on the provided estimate, and 20% of homes sold in Spain in 2021 were below the initial asking price. By using appropriate appraisal tools, precise appraisals can be carried out that take into account economic and local market factors, increasing the chances of selling the property at a fair price.

In conclusion, precise appraisal is crucial for successful real estate sales in Spain. Knowing the local market, having technical knowledge and experience, and using appropriate appraisal tools are the three main characteristics to carry out a precise and realistic appraisal. By establishing a fair and attractive price for buyers, the chances of selling the property within a reasonable timeframe are significantly increased.

Diseñado por CRM Inmovilla
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