Property Valuation. How much is my house worth?

Property valuation is the art or science of assessing the value of an asset at a given point in time, taking into account: a) the specific characteristics of the property, b) current market economic indicators, and c) all alternative forms of investment.

It is a combination of both. The appraiser must have the scientific knowledge to apply mathematical models, but also the ability to use their judgment to select data that will help them draw the right conclusions.

Real estate has three "dimensions": technical, legal, and financial. These are the factors that influence property valuation.

The "Value" of the property in the Appraisal is simply an opinion of the amount for which it could be sold on the date of the appraisal, while the "Price" of the property is the recorded amount at which the sale was ultimately completed.

Why people (sellers and buyers) do not consult appraisers. In theory, if there were complete transparency and information, the market would be perfect and both prices would coincide. However, the market is not perfect, so there is almost always a discrepancy, and often a significant one.

According to international and European valuation standards, the main valuation methods are: a) the comparative method, b) the capitalization method, c) the residual method, and d) the replacement cost method.

It depends on the type of property and its use. The comparative method is the "cornerstone" of valuation and is used in the vast majority of cases to estimate the current market value or rent of a residential or commercial property.

The cost for an Appraisal of a typical residential property using the Comparative Method starts at 250,00 € + VAT. For clients who entrust us exclusively with the sale or rental of their property, the appraisal is provided free of charge, along with a technical and legal inspection. For other types and uses of Appraisals (e.g., for legal use, inheritance, etc.), please contact us.

There are several platforms today that claim that by entering some basic characteristics of the property in question, you will receive its current market value as a result. This is not true, as the current market value depends on many different factors that are not taken into account in these "models." What you will get is an average, or a general average price, which may differ significantly from reality. The current market value estimates we make are always based on an on-site inspection and take into account the latest market data and the specific characteristics of each property. That is why they are always very accurate.

The first step is to fill out the form on this page. We will call you to schedule an appointment at the property to be appraised, or alternatively, you can come to our Real Estate Agency in Galatsi or our Real Estate Agency in Marousi (by appointment) to give us the documents and property details we'll need to finish our appraisal.