Berlin property value
You want to determine the value of your Berlin real estate? If you need a comprehensive, written report on the value of your Berlin property (e.g. for inheritance disputes in court), you should ask an appraiser to do it.
If you want to sell your Berlin house or Berlin apartment, we recommend you a free valuation by an experienced local expert, who makes a reasonable estimate of your Berlin real estate prices.
Method of valuation
In Germany there are three recognized methods of valuation of real estate, for which the Federal Ministry of Justice has revised its policies on the 19.05.2010 (Property Valuation Ordinance).
- Sales comparison approach: the market value is determined by comparing the prices of similar properties that have been sold in the same time period.
- Cost approach: the cost approach derives the market value of a building from its production costs. The basis here is the costs that would be generated if the building had to be constructed once more.
- Income approach: the income approach is used in particular when a managed property, respectively a property that provides income, has to be assessed. Here the sustained achievable net gains are to the fore in the evaluation process.
Property Valuation - theory and practice
The 3 methods value the property from a unique perspective. Each one of them has its legitimacy and with careful implementation leads to realistic results. In reality, the experience of the appraiser is more important than the process itself. This because for each procedure, the evaluating person must bring its own knowledge of the Berlin real estate market and decide which compared values take in consideration and which not, which factors should be weighted heavily and which not, etc.
Tip: Get a valuation from a real estate professional. Find out which Berlin real estate prices are achievable for your property and how an ideal marketing strategy looks like.