Market value of property
estimate correctly
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A guide to the
Evaluation
Your property
Sell house?
Or buy house?
Sell apartment?
Or buy apartment?
There are numerous occasions to determine the value of a property, whether when buying or selling real estate, an inheritance, divorce or out of pure curiosity about the current market price. Questions often arise: "How do I value my property correctly?" or "How do I estimate the value of my house?
We help you gain clarity on these issues and navigate the real estate valuation process. A well-founded real estate valuation is essential when buying or selling properties. It provides certainty, promotes trust and forms the basis for pricing and negotiations. In an ever-changing market, knowing the exact value of your property is gold.
Chapter 1
The basics of real estate valuation
Various factors play a role in real estate valuation. These include location, area, condition, year of construction, renovations carried out, equipment features and many other aspects. The valuation of a property requires comprehensive know-how and expertise. There are various approaches to determining the value of real estate.
In Austria, three methods in particular are commonly used: the comparative value method, the asset value method and the capitalized earnings value method (see below). All three represent legally standardized approaches to value determination. Official appraisals use these standardized methods, while the practice of price determination is guided by them, but usually does not produce formal written appraisals.
You want to know what your
property is currently worth?
Chapter 2
Method of valuation
Comparative value method
In this method, which is most commonly used in practice, value is determined by comparison with similar properties recently sold on the market. Experienced brokers use their in-depth knowledge and years of experience to determine a plausible price range. Nowadays, various digital tools help to improve and facilitate the market value assessment. Often used for apartments and smaller single-family houses.
Material value method
The asset value method takes into account the land value and the construction value of a property. The construction value is defined as the production value, minus the previous wear and tear of the property. This method is particularly useful when there are only a few comparable properties on the market, e.g. in the upscale and luxury residential segment as well as for special properties such as castles, hunting estates.
Capitalized earnings method
The capitalized earnings value method is particularly relevant if the property is purchased as an investment property. Here, the expected income of the property is multiplied by a valuation factor to determine a value for the property. Used primarily for apartment buildings and rental properties such as office and commercial real estate.
The comparison certainly makes
The comparative value method is characterized by its practical relevance and accuracy when used correctly. In this context, finding suitable objects for comparison is essential.
While sales data of similar properties could theoretically be obtained from the land register, this is often challenging in practice. In-depth knowledge of the real estate landscape and property characteristics is required.
Laypeople often overlook the fact that not all land transactions are in line with the market. A savvy broker recognizes such nuances.
When using the comparative value method, one should rely on the expertise of a professional. This ensures a realistic price range that reflects market conditions and provides guidance to buyers and sellers.
Chapter 3
Other value terms
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The fair value, for example, is the amount that could be realized under normal market conditions.
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The purchase price, on the other hand, is the price agreed between the buyer and seller and may differ from the market value.
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It is the standard value determined by the tax office and serves primarily tax purposes such as the calculation of property tax.
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The residual value of a property is a term used primarily in real estate development that refers to the potential value that remains after development costs for a particular project have been deducted.
In practice, residual value is often used to determine the maximum amount a developer would be willing to pay for a piece of land or existing property to be developed or converted.
To calculate the residual value, one first takes the estimated final value of the project after completion (i.e., the amount for which the finished property could be sold or leased). From this amount, one then subtracts the estimated development costs, which include all costs of construction, planning, permitting, financing, and any other costs incurred in the development. The result of this calculation is the residual value.
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Real estate valuation using the discounted cash flow (DCF) approach is a method of determining the value of a property based on the expected future cash flows it will generate. This method is often used for investment properties because it provides an accurate estimate of a property's earning potential.
The DCF method works by estimating the future cash flows of the property, such as rental income, and then discounting them down to today's value. The discount rate reflects the investor's risk and time preference - the higher the risk and the later the cash flows are expected to be, the more they are discounted.
There are various dimensions to consider when valuing a property, such as micro-location, area, condition, year of construction, fixtures and fittings, renovation requirements and many other factors. Precisely determining the value of a property requires sound market and specialist knowledge as well as experience.
"
Dr Andreas Bonschak, LL.M.
Chapter 4
Advantages of a
professional
Evaluation
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A professional real estate appraisal provides confidence and security for both buyers and sellers. It provides a reliable assessment of the market value and helps to set realistic price expectations.
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The value determined by the professional real estate appraisal serves as a solid basis for price negotiations. It ensures that you achieve a fair price both when buying and selling a property.
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A professional real estate appraiser has no personal ties to the property and can therefore provide an objective valuation. This independence ensures a balanced and fair result.
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A real estate expert will incorporate all relevant factors, such as the location, condition of the property, market climate, and more into the valuation. This comprehensive approach provides an accurate picture of the value of your property.
Broker commission &
Costs
The exact valuation and value estimate of a property is influenced by numerous factors, including the type of real estate object, the comprehensiveness of the appraisal and many other aspects. We therefore offer appropriately variable, attractive prices for a valuation.
A decisive advantage for our customers: Should you decide to use our brokerage services after receiving the appraisal and a successful mediation takes place, your costs for the appraisal will be fully credited to the brokerage commission.
If you are considering selling your property, a non-binding quick valuation or rough estimate - as an approximate value for the sale - is of course free of charge for you.
Free
Real estate valuation
