Five factors that can make your home more valuable at resale
Often, owners get overwhelmed when it comes to evaluating their own assets. The reason for this lies in the view of both parties in the valuation of the property itself. The seller is usually emotionally attached to the property, and the buyer trades based on profitability and also considers his own needs as the most important criterion. That's why we want to raise some points that an owner should consider in the sale. A professional NBA basketball player or a Premier League professional footballer, or a successful actor, buys luxury properties with plenty of space and amenities that a normal person can't afford, and here price and income are not the deciding factor. Here, convenience, privacy and emotion are the driving force, so money typically plays a minor role in these real estate transactions. This also happens sometimes in holiday homes and second housing in the south and by the sea, when the dream seems to come true and the economic side is set aside and emotions are the deciding factor. However, this does not always have to be the case, and there is also a marked change in pandemic times. In most cases, however there is a big difference for owners with average incomes. Because whenever they want to resell their home again they notice what they consider to be an asset to their own property, such as a swimming pool or an elaborate garden, it may be the opposite for the buyer derived from the running costs that for him are more important than amenities. As difficult as it may seem to many homeowners, the market doesn't care how much you've invested in the property before. In addition to your preferences, there are actually factors that increase the long-term value of a property and others that simply aren't taken into account because they also don't seem important to the buyer. That is why we should start describing them, because it is important that both parties know these criteria. If you are the owner, you have the advantage that you can design the house as you want. Individuality can sometimes be a shot in the foot, especially when the house should be resold. As an owner, you also have to put yourself in the buyer's shoes. The buyer always begins to calculate what the house will cost in the end after all the work and work that is part of their lifestyle and their needs. That is, if I have a Roman-style bathroom with 40 m2 in marble and pink, this is a construction and cost-intensive space for a buyer who needs a bathroom with minimalist furniture and a shower. Because the art is to find a customer who has exactly the same sense of taste as the seller, and this is very unlikely in most cases. Therefore, the principle of selling patterns is usually more than luxury! That same sample can be applied to the division of the apartment or house. The more individual, the more difficult and lower can be the final value, the property can be dropped down in value by the buyer. Because every wall that is built down or added to it means a cost factor for the buyer, which he then deducts from the purchase price later when buying the property. Again, the more standard, the less chance for the buyer to make price reductions A home is rent-free but not free of charge. And that leads us to another point “The maintenance”. Anything that causes excessive costs, such as outdoor lighting at all corners, oversized pool, can reduce the value of a property. Nevertheless, for the luxury segment this can be a plus because such equipment is usually standard. In the case of land, the usual rule to apply is that a large plot of land increases the value of a property. But sometimes in the eye of the beholder, it can lead to discounts because of the incidental costs. These rules should only be considered as an orientation, because if the buyer likes the house and he does not care about the costs incurred, because he wants to buy exactly this property, the rule confirms only the exception of the rule. Nevertheless, we believe that this can help to evaluate a house objectively. Author: Paulo Lopes
Lisbon leaves Singapore and Abu Dhabi behind in the Expat City Ranking 2020 and is the third best city in the world to live in!
Lisbon leaves Singapore and Abu Dhabi behind in the Expat City Ranking 2020 and is the third best city in the world to live in! After the 6th place in 2019 the Expat City Ranking 2020 puts Lisbon in 3rd place in the ranking of the best cities in the world for foreigners to live and work. In this international assessment internations.org of the 66 cities of expat city ranking 2020, Lisbon occupies the 3rd place in the middle of 66 world cities evaluated by the organization. Part of the evaluation had to do with the 82% of expatriates interviewed who feel at home in the Portuguese capital versus 64% on a global average. However there are 20% more expatriates than the international average of 59% being in Lisbon 79% who feel happy with their social life, thus bringing the city of Lisbon to 3rd place in the world. Our seaside capital is considered one of the best cities to live in for its climate, its safety, its social life and its urban quality of life that compared to other cities has made to achieve above average results. Thus the Portuguese capital was in the 5th Place of the Subcategory Leisure and Climate. This is an impressive number when we note that 89% of foreigners show their total satisfaction in the local leisure category versus 71% in the global average. Weather and weather are a satisfaction factor for 96% of expatriates. Most expatriates in Lisbon (99%) think the same way about your personal safety (vs.82% globally). While Lisbon still ranks 6th in the Local Cost of Living Index, with 64% of expatriates feeling satisfied with this aspect (vs. 46% globally). However the city obtains mixed results in the Work Life Index (23): Expatriates feel happy and privileged with their jobs in general (79% happy vs. 65% globally) and their work-life balance (83% happy vs. 64% globally). But they feel a certain dissatisfaction with job opportunities in the city and in the perspective of a local career (37% unhappy vs. 34% globally) as well as as a result of the state of the local economy (19% unhappy vs. 18% globally). At the top of the Expat City Ranking 2020 are the cities of Valencia and Alicante. Next is Lisbon, followed by the cities of Panama, Singapore, Malaga, Buenos Aires, Kuala Lumpur, Madrid and Abu Dhabi that close the top 10. See expat city ranking 2020 https://www.internations.org/expat-insider/
Polish and present! How am I going to sell my property!
You don't sell a property every day. And there are a lot of pitfalls in the middle of the road, from preparation to price negotiation. And what is the right way to success? There may be a variety of reasons to sell a property: moving from living place to another city, the house became too big after the children moved in, or financial reasons. But what do I have to look at the sale, so that my beloved property will hand over to others who give it the same value and satisfaction? This takes six important steps: Find documents If you want to sell, you must first prepare and find all the necessary documents for the sale of your property. It always makes a good impression and you are not unprepared when the potential buyer shows up and asks you for documentation for analysis. Something that is often devalued, but is indeed very important are; the actual calculation of the housing area and the floor plan design that should definitely be available. However, it is also important to have documents about the location, technical condition of the building and equipment, and any evidence, invoices of the modernizations already carried out. Beauty repair versus modernization We advise that minor defects, such as squeaking doors or leaking faucets, should be corrected definitively before selling, in order to make a good first impression. But beware: defects in the house, such as the serious infestation of the mold, should not be concealed, but reported. This creates confidence in the transparency demonstrated, and can avoid in some situations empasses for minor or greater reasons. Already on the issue of modernization the subject is more complicated. Often it makes little sense to invest before the sale in modernization or cosmetic because from our experience, this to date has been reflected in the purchase price. On the contrary, experience tells us that many times buyers are in doubt and the taste is different, however the cost that is reflected in this action in the seller's currency carrier never have return and causes emotional problems between seller and buyer derived to taste. Prices Which brings us to the most important question: price. No one wants to feel like you sold the house too cheap. But if you're going to bet too high on the price, you risk the sale of the property becoming a nightmare, because no one is interested in seeing it. For the first price orientation, it is worth taking a look around and make a reasonable average, never starting from the higher value, but from the average practiced in the surroundings. Just look for properties equal or similar in the area in the main real estate portals and in the newspapers. Make proper advertising If you don't sell in the circle of friends or acquaintances, there's no way around online ads. Examples can be OLX.pt, fair cost, idealista.pt or imovirtual.pt. Quality photographs are very important, as well as how and in what state are the rooms in which the photographs were taken. It does not serve the quality when you still see the leftovers of lunch in the kitchen and the pajamas on top of the messy bed in the bedroom. Like other situations I don't want to highlight here. Surveys and visits At the bottom, there are two types of stakeholders: the curious, and those who have serious buying intentions. It is important here to separate the tares from the wheat from an early age. Something that sometimes fails the private for lack of experience of human knowledge and to ask the right questions before the visit. Visiting dates and times should always be set as individual dates to give the buyer the value, however it is okay if the second visit is scheduled after an hour. Because so anyone who is interested and needs more time to visit, can realize that they are not alone within those interested. You should always prepare for the question, "Why are you selling?" In general, one should speak openly about the reasons, because sign communication in this opening invites the opponent to realize that he is facing a person of trust and total transparency. However, it is also clear that those who urgently need to sell, for financial reasons, for example, should not immediately disclose this problem, but rather the need for change in life, which does not leave it to be the pure truth. Price negotiations In peace lies power. In other words, anyone who makes it clear that things have to go quickly risks a poor negotiating position when it comes to prices. In general, one should not respond directly to the buyer's first offer. But as a rule, those interested generally want a discount on the price of just under five percent - we can then agree halfway. Do I sell or give to sell to the Real Estate Mediation Consultant? There is no time, no patience, no vocation for all these steps to sell your property? So selling with a Professional Mediator can be the sensible and best option for you. Professional Mediators have an often undervalued benefit that is that of the kind of neutralizer between the parties. That is, as the name already induces the mediator who mediates the situation and the business between the parties, because we cannot forget that the sale of a house in which the seller himself still lives is an emotional process in which the Mediator brings and leads to an objective distance. Autor: Paulo Lopes
Brussels wants to renovate 400 buildings per hour by 2030
Brussels wants to renovate 400 buildings per hour by 2030 New European strategy promises to boost the construction sector and generate another 160,000 jobs. With this wave of renovation the EU wants to decarbonise 35 million buildings in the European Union and create 160,000 green jobs in construction. This initiative by the European Commission for the rehabilitation and improvement of energy efficiency in 35 million homes, businesses, schools, hospitals and other buildings in the 27 Member States of the European Union (EU) over the next decade. It will be able to create 160,000 more green jobs in the European construction sector. The European Green Pact, and its set targets for reducing greenhouse gas emissions are so ambitious, that an average of 400 buildings per hour will need to be decarbonised between 2021 and 2030. And it cannot stop there if Europe really wants to be the first continent to achieve climate neutrality by 2050. In order to reduce emissions in the European Union by 55% by 2030, Brussels estimates an additional annual investment for building renovations at around €275 billion. It will be an important factor in real estate rehabilitation of the future, as it will also be an engine of employment that involves the labor-intensive construction sector, and many other crafts linked to sustainable construction and energy efficiency, not forgetting smart housing technology to reduce the energy bill of residential and non-residential buildings, as well as their emissions. Because buildings and real estate account for more than 40% of energy consumption and their energy-related greenhouse gas emissions in the EU. We cannot forget that about 85% or 220 Million existing and inhabited buildings in the European Union form built before the 21st century. Source: Express
The Portuguese real estate sector is resisting, and let no one doubt it!
There are many opportunistic investors closely following the Portuguese real estate market, waiting for forced sales from owners in difficulty and especially in the hotel sector. Following the national and international market trends of the last few weeks, Portuguese real estate is and remains a market that attracts renowned international investors. But the situation and the times we are going through, not only at national level but also internationally provoked by Covid 19, have once again opened the doors to such "vulture investors", who are only waiting for hopelessness and sales in our real estate market. It is necessary to tell everyone and whoever wants to listen or not, the Portuguese real estate market is stable, we believe in a recovery of the market for a short time and not later than in the summer of 2021. However, we all know that the moratoriums on rents and bank loans, will not be for eternity, but they can really ensure that prices will remain high until the second half of 2021. Given what has been published by Eurostat this week Portugal is above the European average which respects the rise in property prices during the Epidemic, and as such should also remain at that level. One of the points that makes us have this conviction of security and bet on our real estate market, is on the one hand the lack of alternative in the international markets that compete with us, having the same more problems as us with the pandemic, refugees and economy. This crisis does not originate in banking, there is no real estate bubble in Portugal, because there are developed countries that are more willing than us to such a bubble. But neither can we ignore the world in which we live, with elections in the United States, conflicts in the Caucasus which may involve some international powers and create even more instability in the international economy. World pandemic, fireproof democracies because of the falsified news and much more. So, nobody has that crystal ball, but following international news and trends. Portugal is one of the countries that offers the most for money, both in real estate and in security as well as in tax and the most important of all its people, its climate and its quality of life that it seeks the same everywhere and that should not exist. Portugal and its property market are stable because they offer stability, security, return, quality and above all those who can compete with us. Author: Paulo Lopes (CEO Casaiberia)
Portugal is the country with the fifth highest rise in price in EU real estate during the pandemic
Between April and June this year, homes in Portugal increased by 7.8%, according to recent Eurostat data. Between April and June 2020, in full restraint because of the pandemic, in most EU Member States, property prices rose by 5% in the Eurozone and 5.2% in the European Union (EU) compared to the same period last year. Portugal recorded the fifth biggest rise in the EU: with the rise of 7.8% in Portuguese real estate So, what has changed since 2010? The price of houses has risen almost twice as much as their rents, how can it be? In Portugal the house prices have risen by more than 40% since 2010, and rents have increased by more than 15% in the last decade, according to the data released by Eurostat this week. Since 2010 and until the end of the first half of 2020, housing rents increased by 14.2% while sales prices rose to 25%. Eurostat reported that from 2010 to the second quarter of 2011, house prices and rentals in the European Union (EU) had a smooth and similar rise, however it was from the third quarter of 2011 that the trajectory was no longer similar. Then follows a significant increase in early 2015, and since then house prices have been rising at a much higher rate than rents at the same time. Thus, there has been since 2010 and the second quarter of 2020 an increase in rents of 14.2% and housing 25% - this means a difference between the two indicators of 10.8% higher values in the purchase of property. But it was not only in Portugal that there was this difference, because the truth is that house prices grew more than rents in several Member States, but it was in Portugal where there was greater expression of this phenomenon, which caused house prices to rise by more than 40% and rents more than 15%. However, we must not forget the fall in prices between 2008 and 2010 from the financial crisis, which are somewhat reflected here and as well reflected in the difference of the house prices later. In 2012 the sale price of real estate was about 20% below the cost price of the property and only in 2014 were again reached values in real estate that reflected the cost of construction and the price of land in the sale of real estate. In terms of sales prices, and in the period analyzed by Eurostat, the highest increases occurred in Estonia (+100.5%), Luxembourg (+ 85.8%), Latvia (+ 77.3%) and Austria (+ 75.9%). The most lost in this period was Greece (-31.0%), Italy (-13.2%), Spain (-5.6%) and Cyprus (-3.0%) which recorded the largest declines. On the other hand, in rents, and compared to the second quarter of 2020 with 2010, prices increased in 25 EU Member States and decreased in just two, with the largest rental price increases in Estonia (+ 135.8%), Lithuania (+ 105.4%) and Ireland (+ 62.3%). The falls were recorded once again of higher volume in Greece (-25.2%) cyprus (-4.8%). Source: Eurostat https://ec.europa.eu/eurostat/web/products-eurostat-news/-/DDN-20201007-2?inheritRedirect=true&redirect=%2Feurostat%2Fhome%3F
The British are living in a low-confidence housing boom.
Brits are experiencing a deceptive property boom House prices in the UK rose sharply in August, marking an all-time high. This is certainly seen as an indicator of economic recovery. But economists are already seeing the next economic killer on the rise. The house prices in the UK rose as sharply in August as they did 16 years ago. Compared to the previous month, they increased by two percent, according to the much-publicized index of the building credit society Nationwide. This is the biggest jump since February 2004. In the country, prices are thus 3.7 percent higher than in the previous year. A home costs an average of 224,100 pounds (251,300 euros), the highest since the Nationwide index began recording in 1991. As a result, house prices have recouped all the losses they recorded in May and June and are at a new all-time high, Nationwide’s chief economist said in London at the end of September.. The real estate market in the UK is receiving considerable attention as an indicator of economic development. As of March, transactions had stalled for weeks during the Corona lockdown. Britain has experienced a sharp economic downturn as a result of the pandemic. In March and April combined, the economy lost nearly a quarter, or 24.5 percent, compared to the same period last year. Observers therefore point out that the current jump in the price of the real estate market is partly due to the pent-up demand from that period. However, property inspections were among the first easing of the restrictions allowed by the government. Added to this is the tendency for buyers to look for more space now! In addition, the market benefits from the special effect of a reduction in the so-called stamp duty that is due in a transaction. By the end of March 2021, home purchases up to a value of more than 500,000 pounds will be exempt from the levy. Buyers save up to 15,000 pounds. For more expensive properties, the tax is reduced accordingly. Finally, low interest rates help with financing. After months in their home office, British buyers are now increasingly looking for more space in the hope of a permanently reduced need to commute to the office, so now a larger radius to their workplace is an issue and thus also the subsequent price increases in the rural areas around the largest urban centers. 15 per cent of respondents to a Nationwide survey in May, due to the experience of the lockdown, now consider moving from the city centers and small units to greater units into the rural suburban areas. Many observers, however, are skeptical that the positive figures of recent weeks show a longer-term trend. Most forecasts in the British journals assume that the labour market will weaken significantly in the coming quarters, due to the long-term consequences of the pandemic and the end of government programs. If that happens, it is likely to significantly dampen developments in the UK property market over the next few quarters. The short-time work program launched by the government ends in October. The Economists expect a sharp rise in unemployment in sectors that have so far been heavily affected by this aid, as well as in many other European countries. Will House prices in the UK slump by 16 per cent? The Office for Budget Responsibility, which makes forecasts for the UK government, believes a 16 per cent fall in house prices is possible in a worst-case scenario. If the current boom ends with a crash, it will drive 11 percent of homeowners into over-indebtedness, the calculations show. 130,000 households are considered a risk group because they took out a mortgage and paid less than ten percent of the purchase price directly with their own capital. Source: Welt
Oeiras Chamber will invest €100 million in Tourism Real Estate strategy
Oeiras Chamber will invest €100 million in tourism accomodation and infrastructure Recovery of historical heritage and several new hotels are part of the new strategic plan for tourism and hotel development. Oeiras will present by the end of this year the new strategic plan of tourist and hotel development of the municipality. The municipality that stood out mainly for the investment in business and technology parks, now also wants to bet on tourism and leisure. As such the municipality wants to open ten hotel units by 2024 and is betting headlong on the recovery of historical assets with an expected investment of €100 million by the municipality itself. Moving forward with the recovery of some of the oldest and most emblematic buildings in the area translates this investment into €80 million for the rehabilitation of the old heritage, plus an investment of €20 million in the construction of a congress centre. Source: Expresso
Foreigners increasingly buy homes with values above the national average
Foreigners increasingly buy homes with values above the national average On average, non-residents paid 176,400 euros per property in Portugal, a figure that is 56.8% above the average global value of the real estate Portuguese. However, it is also true that they are buying less real estate in Portugal, but for increasingly higher values and far from the average price practiced in the country. In 2019, non-residents accounted for about 13% of the total value transacted in the Portuguese real estate market, remaining the Portuguese leader in transactions with a volume of 87%. These data were released on September 22, by the National Institute of Statistics Portuguese (INE), so last year, 230,776 properties were transacted in Portugal in the total amount of 25,955 million euros. This means that the average value of real estate has been 112,400 euros. The share of the purchase of real estate in Portugal during this period by foreigners and non-residents were 19,520 (8.5%). However, they paid 3,443 million euros for these properties, representing 13.3% of the total. Thus, the number of properties purchased by non-residents decreased by 2% between 2018 and 2019, but the total amount paid for them increased by about 1%. French are the ones who buy the most, Chinese who pay the most. In 2019 the French or descendants of French origin, returned to be those who buy more properties in Portugal, representing more than 18% of the acquisitions made by foreigners. The British, on the other hand, represent those who buy the most properties of Euro 500,000 or more. In all, in 2019, 976 properties above this level were sold to residents abroad; of these, 252 were bought by Britons. After the French and the British are the Chinese who pay the most for real estate in Portugal. Last year, the average amount paid by the Chinese was 373,000 euros per property, more than double the average value of properties sold to residents abroad. Source: Business Journal and INE
With the crisis, Portugal has not lost its investment attractiveness
A sign of this trend and the example of the French Entrepreneur Claude Berda who is now also debuting at Graça in Lisbon. The French millionaire's company will invest €25 million in a luxury residential project in the historic centre of our capital. Situated on a plot below the viewpoint of Nossa Senhora do Monte, in Lisbon, this project in the historic center of Vanguard Properties will be named "Torres do Monte". The objective for this project is to create a building from scratch in the area of Graça that has size and a relevant deployment area to build the first super-premium building in the historic area of Lisbon, with finishes in line from what was done by Vanguard Properties in Castilho 203, building that counts Christiano Ronaldo as one of the owners. Terraços do Monte will be implanted in a plot of 1500 m2 where a building with a gross private area of 3300 m2 will be built on five floors . The project foresees 28 apartments since T1 and T4, between 60 m2 and 200 m2, around €7,000 and €10,000 per square metre. This building will also have in addition to a modern gym, SPA, swimming pool and 63 parking spaces. What has been seen in Lisbon and Porto is that the luxury segment where Vanguard is positioned continues to recover, without having been affected by the pandemic, with the exception of two or three weeks of outage at the end of March. Contrary to what has been happening in many countries, Portugal has not lost the attractiveness that is characteristic of it. And real estate investment is different from investing in the Stock Exchange, which is a volatile and risky market. Our country remains attractive and is one of the safest places in the world, so it must be concluded that the real estate market in Portugal may be affected in some segments, but we must conclude that in the medium and high segment demand remains unchanged. Source: Expresso
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