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Estate Agents Los Alcazares Mar Menor Murcia Spain

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 that affect prices.

The economic and financial crisis in Spain produced 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:

1. Reforms.

Reforms in housing may further increase the return on investment for its owner, though not always the case, because the changes must be in line with average changes take place in the neighborhood.

2. Trying to sell at the right time.

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

Therefore, at present, 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.

3. Valuation.

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

4. 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.

5. Overvaluation.

Housing often overestimate 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 vendors in Spain remain wedded to the idea of selling their properties at close to its acquisition price.

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

Europahus, real estate advisers in Los Alcázares.

If you need advice during the purchase of your home on the Mediterranean coast of Spain, contact EUROPAHUS. You tell us what you have in mind, and we take care to provide as many options according to your budget and preferences. In ourweb catalogue you can find villas, apartments, townhouses, bungalows, and all types of properties you can think of on the Costa Calida and Costa Blanca. From Mazarrón to Denia.

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