How is property pricing determined?
Owning a property and knowing its value is as important as knowing your ID number these days. If it is an investment you take seriously and you would like to know the value of your holding, one should get a professional opinion on a property valuation. “A property valuation is an estimated market value of a property, determined using a sophisticated statistical calculation” informed Craig Hutchison, CEO of Engel & Völkers Southern Africa.
Not only will the price of your home get influenced by what is happening, on the political stage of the country you live in, the area and surrounding suburbs also play a vital role in the evaluation as well. The fact that it has easy access to highways, shopping centres and schools will have your price looking to the plus side in the ideal location. Overall the condition and upkeep of your property is one of the biggest factors which result in home owners losing money when the opportunity for sale presents itself. It’s always best to consult a professional property sales advisor before investing, as most of them are qualified to forecast the direction of what the property pricing scale shall move in years to come.