Property Valuations
What are property valuations?
A key factor in selling or leasing a property is correctly determining its actual value. Usually, owners turn to real estate agents, but the valuation of a property is not static; it constantly changes and is influenced by many factors, such as legal, economic, and technical factors, which certified appraisers are familiar with.
Our company has been registered in the Ministry of Finance’s Register of Certified Appraisers since 2013, having worked with five different banks and numerous private individuals. Our extensive experience and constantly growing database ensure our clients certainty, objectivity, and above all, trust and absolute confidentiality.
What does market value of property mean?
The term “market value” of a property refers to the value determined by the market based on various factors, including economic, social, and technical factors.
What is the role of the mechanical engineer?
Their role is to study all available technical and legal documents, which will enable them to determine the correct method and accurately determine the final value of the property after an on-site inspection.
Where is a property appraisal needed?
• for legal disputes
• to determine compensation amounts
• to pre-empt a property
• for accounting purposes
• for loan purposes
• for insurance companies
• for investment purposes
• for their energy status (performance)
• for expropriations
What factors directly influence the valuation of a property?
• Legal
• Technical
• Financial
What other factors influence the value of a property appraisal?
• Global economic climate
• National economy
• Legislation – tax law
• Growth prospects for a region
• Legal status of the property
• Location – geography
• Condition, age
• Current rent
• Special features of the property (architecture, layout)
How is value determined in property appraisal?
As a concept, “the value of a property” has various manifestations, such as:
• Economic value, which is influenced by supply and demand, utility, uniqueness, integrity, etc.
• Purchase value, which represents the most likely sale price of the property.
• Actual/current value, which is essentially the average determined by fluctuations in existing supply and demand prices.
• The objective value, which is the value of the property according to the state.
What is taken into account when assessing plots of land within a development plan?
When assessing plots of land within a development plan, a number of factors are taken into account, such as:
• permitted land uses
• building coefficient and coverage ratio
• whether or not there are any encumbrances on the property
• the view
• accessibility
• the existence or absence and condition of public utility infrastructure in the area
• adjacent land uses
• soil and subsoil quality
• the existence or absence of a building on the plot and its condition
• the commercial viability of nearby roads
• its location in the urban fabric and, more specifically, in the urban block
• its distance from the sea or areas of particular natural beauty
• its distance from areas of cultural interest
• the relationship between its previous and future use.
What is taken into account when assessing land outside the development plan?
In the case of valuing land outside the plan, things are in some cases simpler and in others more complex than in the case of land within the plan. Thus, for the valuation of land outside the plan, parameters such as the following are taken into account:
• location,
• land use
• building and coverage coefficient
• shape (corner/middle/through)
• frontage on a public road and its depth
• urban planning and legal commitments
• access – road network – road width
• network infrastructure
• proximity to a stream
• forest character
• existence of works
• prospects, permitted uses,
• size, completeness, possibility of subdivision,
• distance from urban centers, infrastructure,
• distance from the sea
• prospects for inclusion in the plan,
• road construction,
• determination of the coastline,
• terrain morphology (steep slopes)
• proximity to positive or negative factors
• predominant uses of the area, etc.
The projects completed by Europlan demonstrate our expertise in property valuation. Visit our Projects page
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