What is Goodwill? How is the Goodwill Value Determined in Real Estate? The concept of "goodwill", which is often encountered in the real estate sector but is not fully known by many people, refers to the extra value that a real estate gains depending on its characteristics such as its location, landscape, transportation facilities and social facilities. So, what is goodwill and how is it determined? Here are the details... What is Goodwill? Goodwill is the additional value that allows even two houses with the same characteristics to have different prices due to elements such as location, landscape or floor difference. Oct. For example, if one of the two apartments in the same project has a sea view and the other stays on the back facade, the goodwill value of the apartment with a sea view is higher. How is the Goodwill Value Determined? Various criteria are taken into consideration when determining the goodwill value. Among them are Dec: Location: Real estate in the central regions has a higher goodwill value. Landscape: Real estate with a sea, lake, forest or city view gains an additional value because it is in more demand. Oct. Floor Difference: Apartments located on higher floors usually have a higher goodwill value because they have the advantage of better views and less noise. Facade: Sunny, bright and spacious apartments may be more valuable compared to apartments facing the north facade. Social Facilities: The proximity to facilities such as the pool, gym, children's park on the site are also among the factors affecting the goodwill value. Dec. Transportation and Environment: Proximity to transportation facilities such as metro, bus stops and main roads also increases the goodwill value of real estate. Why is Goodwill Value Important? Goodwill is a critical element for both buyers and investors. Because it is necessary to evaluate the goodwill factor in order to understand the price differences between the houses included in the same project and to make the best investment Deci-sion. In addition, dues and other common expenses can be determined based on goodwill values in buildings with condominium ownership. As a result, the goodwill value is of great importance in the real estate purchase and sale processes. When determining the true value of a property, not only the square meter size, but also goodwill factors should be taken into account. Evaluating these elements when investing in real estate can be the key to a profitable investment.