The price is the obvious starting point, but the thin completed-sales evidence concerns me more. I am reviewing a two-bedroom Warsaw villa of about 100 m², in average condition, at an asking price of PLN 2,706,000.
Its light and location are appealing, while the dated finishes and uncertain renovation costs pull the other way. I have three current asking examples and just one confirmed sale. For instance, a nearby villa with parking may be a better guide than a closer-sized property on a noisier street without it.
How would you account for condition and size without giving false precision to such a small sample? I would also like to know which additional detail—exact micro-location, parking, outdoor space or repair scope—would most affect your view. My base case assumes no market growth, and I will seek a local formal appraisal before acting on the estimate.
Its light and location are appealing, while the dated finishes and uncertain renovation costs pull the other way. I have three current asking examples and just one confirmed sale. For instance, a nearby villa with parking may be a better guide than a closer-sized property on a noisier street without it.
How would you account for condition and size without giving false precision to such a small sample? I would also like to know which additional detail—exact micro-location, parking, outdoor space or repair scope—would most affect your view. My base case assumes no market growth, and I will seek a local formal appraisal before acting on the estimate.