Marbella Property Valuations.
Our 20 years of experience in the Marbella real estate market, and extensive knowledge with property values on the Coast, enable us to provide you with a highly accurate valuation of your property – a distinct advantage when considering multiple offers.
There are certain technical means by which a property is valued and we list them here. They can appear, at first sight, to be complicated, but such is the legal system in Spain that it is far better to follow them and to take the advice of the professionals. Formal property valuations are governed by the Ministerial Order ECO/805/2003, in which it is established that sound judgement and factual data are used in all valuations.
These may be based on one of the following. maximum legal value, cost of replacement, or market value, depending on the property being valued and the exact purpose of the valuation.
Maximum legal value.
The maximum sales price of a property, which is subject to the controls of subsidised housing.
The total required investment to reconstruct the property with the same characteristics. The physical and functional depreciation of the property are variable and must be taken into account in the calculation.
The net value that could be expected to be achieved by a seller for the sale of the property at the time of the valuation, by means of proper marketing and assuming that there is a ready, willing and able purchaser. It also assumes that both the seller and purchaser are acting under their own free will.
The legislation also defines the distinctive methods that can be used to calculate the market value: Comparative market analysis, fixed residual value, and capitalization of the current income yield. Other methods such as the dynamic residual value and the capitalization of projected income yield are more complex, since they introduce the parameter of time.
Comparative market analysis.
This is based on the principle of substitution, in which the value is calculated from the recent sales of 6 properties with similar characteristics.
Fixed residual yield.
The method of fixed residual value is based on the principle of greatest and best use, taking into account that the property will have to adapt to changing conditions, provided hat it is economically viable, to obtain the optimum and most intense use possible that evolves in its specific sector of he market in accordance to the location, planning characteristics.
The final method, capitalization of the current income yield, is defined as the price that an average investor would pay for the acquisition of a property in function of the expectations of the yield derived from its exploitation.
The life span is determined in function of the type of property: residential property has an estimated life span of 100 years; offices have 75 years; commercial buildings have 50 years and 35 years for industrial premises.The valuations are normally made on the constructed area of the properties, and this is why it is important to have the right measurements. Frequently, the built area indicated in the escritura does not reflect the actual area, either because it originally failed to include all the construction, or because there have been extensions made at a later date.
Please do not hesitate to call us if you require further information.
LuxuryForSale.Properties Real Estate.
At LuxuryForSale.Properties, we stand ready to serve your real estate needs from our offices in the heart of Marbella. Our highly professional and multilingual staff prides itself on its accessibility, friendliness and dedicated commitment to serving our diverse clientele, with all their Spanish property needs.
Between us, we have decades of experience in the real estate field; we will put that experience to work to find the best solution for your needs. In conjunction with our affiliates, we can locate you a home — or homebuyer — on Spain’s Costa del Sol, or around the world. You can rest assured that you have the most seasoned, capable and caring team working in your best interests. We look forward to meeting you in person. Feel free to contact us now by telephone or email to book an appointment, or view directions to our office in Marbella, and just drop by. Once again, we thank you for taking the time to visiting our site and learn more about us, and we hope to see you here again — or in person — soon.
Should you wish to sell your property in Marbella or your property elsewhere at the Costa del sol, LuxuryForSale.Properties has expert international marketing capability with an international reputation as the best estate agent to take any one property to the world.