Property value: The complete valuation guide

Why is it important to accurately determine the value of the property?

If you are planning to sell your property, accurately determining its value will help you achieve the highest possible sale price and maximize your return.

If the price is set too low, this may result in financial loss. While it is not uncommon for buyers to be willing to pay a higher price, setting the asking price too high also has disadvantages. It may make it more difficult to attract interested buyers, and the property may remain on the market longer than necessary.

How can you determine the value of your property?

Determining your property’s value can be done either online or in person. In fact, you can easily estimate your property’s value yourself using Engel & Völkers’ online property valuation tool. The online valuation process is quick and completely free of charge.

Calculate your property’s value online

The first step to estimating your property’s value online is to use Engel & Völkers’ online property valuation tool and then follow a few simple steps.

Calculate your property’s value online

The first step to estimating your property’s value online is to use Engel & Völkers’ online property valuation tool and then follow a few simple steps.

• Enter your property details

The first step in calculating both the objective and market value of your property is to select the type of building and enter its key characteristics, including details such as the year of construction and the size of the plot.

• Submit the online form

Once you have entered the property information, you simply submit the online form. The system will automatically calculate your property’s value within seconds.

• Receive your valuation

You will immediately receive an analysis and estimated value of your property. If you wish, an Engel & Völkers expert can then contact you to arrange a personalized on-site valuation.

What are the key points regarding property valuation?

Before proceeding with a property valuation, it is important to be aware of certain key aspects:

• The value of a property is crucial for achieving the best possible sale price.

• Multiple factors significantly influence the valuation outcome.

• A property’s market value can be increased in various ways.

• Different methods are used to calculate a property’s value.

• A property valuation may be required for different purposes.

• A property’s value can be determined either online or through an on-site assessment at any time.

Which factors influence a property’s value?

There are many factors that affect a property’s value and its potential selling price.

• The property’s location

Location is one of the most important factors in determining a property’s market value. Areas with good infrastructure, retail options, green spaces, or easy access to public transportation are typically more attractive to buyers, which increases market demand and value.

In terms of objective value, location is primarily influenced by the zone price set by the state for each area.

For an accurate market valuation, two location-related factors are considered:

Macro-location: The property’s position within a city or broader area (e.g., economic development, demand levels).

Micro-location: The immediate surroundings (neighborhood, nearby buildings, infrastructure).

• The type of property

The property category - whether it is a detached house or an apartment, a standalone residence, a maisonette, or part of a housing complex - plays a decisive role in its value. Demand varies depending on the type, with detached houses often being more sought after than apartments in multi-unit buildings.

• The age of the building

The year of construction significantly impacts value. Older buildings typically have lower technical standards and energy performance. Additionally, many structural materials have a limited lifespan and may require replacement over time.

• The size of the house and the plot

Surface area plays a key role. A larger living space generally increases value, as the property can meet a broader range of needs.

For an accurate valuation, both the size of the house and the plot must be taken into account.

• The structural condition of the property

The structural condition greatly influences value. A building that requires renovations will typically have a lower market value. Buyers and valuers always consider the need for future repairs.

• Equipment and quality features

The quality of installations - such as the kitchen, flooring, bathroom, and other areas - affects the price. A home with modern, high-quality materials holds greater value compared to one with basic or outdated features.

How can you increase your property’s value?

If you wish, you can positively influence your property’s value by making certain improvements. Some upgrades are simple and easy to implement, while others require a more substantial investment of time and resources.

Beyond the property’s condition, proper presentation plays a crucial role. An experienced real estate advisor can help showcase your property professionally and position it effectively in the market.

When should you calculate a property’s value?

Calculating a property’s market value may be necessary for various reasons:

• Sale of the property or preparation of a financial statement

• Property donation (calculation of donation tax)

• Inheritance involving multiple heirs

• Prenuptial or marital agreements (determining the value contributed by each spouse)

• Divorce (division of the increase in property value)

What are the methods used to calculate a property’s value?

There are three main methods used to determine your property’s value:

Comparative method

This involves comparing your property with similar properties in the same area. This method is ideal for apartments and terraced or row houses.

Cost (objective value) method

This approach calculates the value of the land and the building based on construction costs and depreciation.

Income method

This method is particularly useful for investment properties. The property’s value is based on the expected rental income it can generate.

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Calculate your property’s value online or on-site

Engel & Völkers offers an online property valuation tool, ideal if you would like to gain an initial understanding of your property’s value.

However, real estate advisors provide more accurate valuations, taking into account all the unique characteristics of your property as well as the key influencing factors.

A property valuation by an experienced real estate advisor is ideal:

• For an accurate calculation and achieving the maximum possible sale price

• For a strategic sales approach with professional guidance