WHAT ARE THE FACTORS AFFECTING THE VALUE OF REAL ESTATE?

As a standard, values such as location, age, equipment and prices of comparable houses are taken into consideration when determining the value of a house. On the other hand, with the recent increase in the importance of real estate sales, especially through sales websites, the prices of houses are determined only by comparing the prices of comparable houses. However, this method ignores other criteria that are of great importance in determining the value of the houses and causes the value of the houses to exceed the value determined in accordance with the standard criteria. It is important to emphasize that determining the value of real estate is a subject that requires expertise and the experts of this subject are real estate experts. We have summarized the factors that determine the value of housing for you.

The factors that determine the value of housing can be categorized under four main headings:

Physical Parameters: Location, square meters, infrastructure, transportation facilities, etc.
Financial Parameters: Investor's income, prices of comparable houses, cost of credit, consumer trends, real estate supply, etc.
Legal Parameters: Public services in the location of the property, ownership/title status of the property, land use regulations, tax policies, etc.
Social Parameters: Consumer demand and behavior, migration trends, population density, population growth rate, market trends, etc.
Let's take a closer look at the factors affecting the sale value of real estate:

Characteristics of the Dwelling: The gross area, net usable area, number of rooms, quality of infrastructure, architectural features, floor, facade and view are important factors that determine the value of the property.

Location: The neighborhood and district where the house is located, the values of comparable houses, the distance to facilities such as schools, health institutions, markets, shopping centers and transportation facilities are factors that directly affect the value of the house.

Title Deed Status: The ownership status of the real estate, whether the title deed is a condominium or a condominium easement, and legal restrictions on the title deed affect the value of the real estate.

Premium Return Potential: Factors such as municipal projects, public investments, large projects of the private sector that can make a premium in the long and medium term in the location where the house is located have a positive effect on the value of the house.

Security Status: The fact that the house is located in a residential complex, the presence of a doorman and security guard, the security systems used in the house and the security status of the neighborhood are among the important factors affecting the value of the house.