A price-per-square-metre approach points one way, while a condition-led comparison points another. The property is a 2-bed coastal home in Bogotá of about 250 m², offered at COP 1,804,000,000. It has good light and location, but dated finishes and potentially costly local sourcing work against it.
I can see three relevant listings and only a single recorded transaction. That makes the asking evidence useful for positioning, not proof of value. How would you adjust for average condition and such a large floor area? I doubt the marginal value of each extra square metre should remain constant.
The exact micro-location, parking, service charges and usable outdoor space are still unclear. Lease length may matter too if any part of the case depends on rental income. My decision rule is becoming: if this is mainly an owner-occupier purchase, prioritise location and outdoor utility; if it must work as an investment, stress management costs and a poor rental year before accepting the valuation. I will still obtain a local appraisal, but I would welcome suggestions for structuring the comparable table.
I can see three relevant listings and only a single recorded transaction. That makes the asking evidence useful for positioning, not proof of value. How would you adjust for average condition and such a large floor area? I doubt the marginal value of each extra square metre should remain constant.
The exact micro-location, parking, service charges and usable outdoor space are still unclear. Lease length may matter too if any part of the case depends on rental income. My decision rule is becoming: if this is mainly an owner-occupier purchase, prioritise location and outdoor utility; if it must work as an investment, stress management costs and a poor rental year before accepting the valuation. I will still obtain a local appraisal, but I would welcome suggestions for structuring the comparable table.