Condition-dependent discounts may actually support the opposite interpretation. Buyers could be paying for move-in-ready stock while rejecting projects, meaning the apparent surplus is concentrated in homes needing work rather than spread across the whole villa market.
For sequencing, settle service routes and wet-area repairs before flooring and paint. Ask bidders for a programme that identifies decisions and materials with long lead times, plus acceptable substitutions if an item would delay several units. If the property stays partly occupied, request a...
With a five-to-seven-year horizon, I would start by separating equity from the costs you never recover: financing, tax, maintenance, association dues and buying or selling expenses. Then model a sale after both five and seven years without assuming a generous resale price.
For the apartment...