Many criteria are taken into account for estimating the value of a property It is necessary to find the right price to sell as quickly as possible! And it is necessary to find the right price to sell as soon as possible!

The value of a property depends on the geographical area

The location of the property is logically the first criterion. Its value depends on the state of the property market in the city in which it is located. But also within this city, it depends on the neighbourhood. A property in the centre of the city generally sells for more than in the suburbs. It is therefore essential to find out the average price per square metre in a given area, bearing in mind that there are certain characteristics that affect the price. For example, increase the price by 5 to 20 % if the property has a good view, but decrease it by the same amount if it is located above a restaurant or bar.

And housing-specific criteria

Each house (or flat) has its own value. This value obviously depends on its condition (is there any work to be done or not?), but also on its surface area, its type, the fact that it has a garden or not, etc. Here again, the value of the property decreases or increases in relation to the average price. Again in percentage terms, a refurbished house, whether it be insulation, plumbing or electrical, is considered to increase in price by 15 to 20 % compared to the average. If a refurbishment is required, the price drops by 5 to 10 %, but if major work is required, the drop can be around 30 %. The floor, the double orientation, the possible vis-à-vis or the external noise can also make the value of the property vary.

You can now estimate a property online atHome.lu to get an initial assessment. For an accurate estimate, you can of course call on a professional. A real estate agent or notary will be able to give you a fair price for your property.