The number of homes that have been sold in Spain has grown exponentially by up to 4.5%. At the same time, the price of these properties is rising steadily in Spain's busy real estate sector. If we look especially at the housing market in the Cosa del Sol, this is even clearer. Focusing on a more specific segment, that of luxury villas, mansions and apartments the rise is clearly evident.

Why is the price/value of housing rising? It is rising for many reasons. Different elements influence the final price of a property. When we refer in this post to the "value of a house" we focus on the appraised value (and not the cadastral value of registration). In other words, to the real market value of a house. In today's post, we talk about those elements that increase the value of a house so that you can take them into account when selling your property.

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Elementos que aumentan el valor de su vivienda. Ubicación.

Main elements increasing the value of your home

Many of you will ask yourselves, what influences the value of a property? Well, there are different elements that increase the value. These contribute decisively to the final price of the property. Below, we will talk about the most important ones:

  1. Market value

Market value has a strong impact on the value of individual homes. When there is high demand in a certain location, be it a neighbourhood or a development, the value increases. And therefore, the price of homes in that area, and sometimes nearby, will also improve. It is the law of "supply and demand". A clear example is the sought after and prestigious area of Marbella known as the Golden Mile. Here demand outstrips supply and prices soar.

  1. Location and accessibility

The location of a property has a great influence on its value. We refer, for example, to having a good location. If the property is close to supermarkets, public transport, the city centre, etc., it will generate a higher value. Schools, leisure areas, golf courses... even easy access to the airport could have an influence. An example of this is the highly valued area of Sierra Blanca in Marbella. It lies to the north of the Golden Mile and its glamour centres (Marbella Club and Puente Romano), but is also relatively close to the centre of Marbella and just a few minutes' drive from Puerto Banus.

  1. Height in the building

The height of an apartment also influences its value. An apartment with no height and no views cannot have the same price as one with a lot of height and wonderful views. This is why we understand that penthouses are usually the most expensive elements of a building. For stunning penthouses on the Costa del Sol do not hesitate to contact us.

  1. Services offered

The services available in a house are indispensable, because: the more services, the higher the value. We refer to many community or individual elements. From lift, garden, swimming pool, cleaner, gym, solar panels, parking to home automation, jacuzzi or surveillance cameras. Likewise, having a more ecological house, with low consumption products such as electrical appliances, light bulbs, doors, etc., generates an increase in value. In addition, when a house is renovated or refurbished, it generates an increase in price because it is more renovated and new despite the passing of the years.

Elementos que aumentan el valor de su vivienda. Vivienda ecológica.

Other elements to consider that increase the value of your home

An expert real estate agent such as ours will tell you that other important elements are also taken into account when valuing a property. For example, the layout of the property as well as its interior and exterior dimensions and surfaces. Of course, the state of conservation of the property and its age. Also the taxes or charges that the property has or may have and the current town planning regulations. And, of course, the value of the property will also increase if all the necessary documentation is available; if not, it will be necessary to request it and this will increase the costs of the purchase-sale to the detriment of the seller.

We have already seen that there are different elements that increase the value of your home. It is important that the owners or future buyers take into account these elements that increase the price of the property and define its real value.

Of course, for more information in this regard, or to learn first hand about the most interesting luxury properties on the Costa del Sol, do not hesitate to contact us.