Berlin townhouse at €786,600: how would you adjust the comparables?

B

BriskPlan

Real estate agent
Established
I’m assessing a 3-bed Berlin townhouse: about 255 m², average condition, asking €786,600. Light and location appear to be the strengths; dated finishes, insurance, maintenance and possible vacancy costs are the concerns.

That is roughly €3,085 per m², but I have only three asking-price comparables and one completed sale. How would you adjust for the unusually large floor area and condition without creating false precision? Which missing fact—micro-location, occupancy or lease terms, service charges, parking, or outdoor space—would most change your view? I’ll obtain a formal local appraisal before relying on any figure.
 
I would anchor on the completed sale, provided it is genuinely comparable, and treat the three asking prices as evidence of seller expectations rather than value. A large home can have a lower rate per square metre, so applying the same rate across all 255 m² may overstate it.

My biggest missing fact is the precise micro-location. In Berlin, a broadly similar description is not enough if the properties are in meaningfully different surroundings.
 
Before debating condition percentages, is it vacant, owner-occupied or leased? If leased, the remaining lease length and terms could matter more than dated finishes. I’d also want to know whether “townhouse” means fully independent costs or service charges within a wider development.

Parking and usable outdoor space should be compared separately rather than buried in the floor-area adjustment.
 
Those questions expose the weakness in what I have. Occupancy or lease details, service charges, parking and outdoor-space rights are not yet clear enough for me to price them. I’ll request those items and the basis for the stated 255 m² before doing more with the comparables.

For now I’m going to use the completed sale as a reference point and create separate scenarios for cosmetic updating versus actual deferred maintenance, rather than one blanket condition discount.
 
Using the completed sale as the main benchmark is understandable, but it may be less reliable than several imperfect comparables. Its date, micro-location, condition or measurement basis could make it a poor match for this 255 m² townhouse.

Put the four properties side by side, showing whether each figure is an asking or sale price, along with distance, date, floor area, occupancy, parking, outdoor space and condition. Mark missing information rather than estimating it. If the reference sale is genuinely close on those points, let it carry more weight. If not, use conservative, middle and favourable scenarios—and walk away if €786,600 makes sense only in the favourable one.
 
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