What factors affect the selling price of a home in Portugal? There are many elements that will have an influence on the price a property is eventually sold for, including the condition and decor of the property. Another extremely important factor is the environment in which the house you want to put on the market is located, something which influences its initial price. Besides the typical slogan of 'location, location, location', you need to take other factors into consideration when determining what the appropriate value is when it comes to putting your house up for sale and making a successful deal. What makes the price of a house go up or down when it comes to selling? We explain with the help of experts.
The basic fundamentals when thinking about the price of a property obviously include location, but also the state of conservation of the house and the building, the floor on which the property is located, the features that the building has and the area, or its orientation. While all of these features are important, you also cannot ignore other factors, mainly external, that can make the price you have in mind skyrocket or sink.
The experts at Foro Consultores have addressed some of the variables that should be taken into account when thinking about setting a house price. If you're selling a property in Portugal, then you'll have to consider the things that have the most negative effect on house prices. The experts state that this is often the case in run-down neighbourhoods or areas with neglected green areas and general misuse that causes problems. Run-down or noisy businesses, as well as having bus stops or train crossings nearby can also reduce the value of homes (mainly due to noise), despite the advantage of having a means of transport nearby.
"These are factors that threaten the value of a house. In other words, devaluation doesn't just happen inside the property, but is also affected by the surrounding environment, and the closer the problem is, the greater the devaluation", explain the specialists at the Foro Consultores blog.
But not all the elements outside the house will be negative. There are also positive aspects that you cannot forget about when determining the value of the house you want to sell. These positive elements include the proximity of quality schools, sports areas, the safety of the neighbourhood, good connections with the city centre and the workplace. The neighbourhood's transport, retail and building rehabilitation characteristics in other words.
The regeneration of a run-down area that is fully redeveloped or semi-industrial areas that are being transformed and becoming residential can also help value the house price, or help you decide how much you are willing to pay if you are looking for a new house to buy in Portugal.