Fuerteventura has become one of the most desired destinations, for its paradisiacal beaches and enviable climate. It is a very attractive place for both locals and foreigners. This great natural and touristic attraction has a direct influence on the real estate market of the island. But, what are the factors that affect the valuation of a property in Fuerteventura? We tell you below.
What are the factors that affect the valuation of a property in Fuerteventura?
Location:
Location is one of the most determining factors in the valuation of a property. The better the location, the higher the price of the property.
Properties close to beaches such as Corralejo, Caleta de Fuste or Costa Calma tend to have a higher value, due to their tourist attraction and the constant demand from buyers and investors.
On the other hand, properties located in areas with good access, nearby services and sea views increase their value even more.
Are you ready to know the real value of your home? We offer you a free professional appraisal.
The size and layout of the dwelling:
The size of the property, i.e. the square meters, also plays a very important role in the valuation. And not only the interior size of the house, but also the exterior or common areas such as the garden or the swimming pool.
Not only the space (square meters) is valued, but also how it is distributed. A house with a good distribution, that makes the most of the available space, will be more valued than a larger one but with poorly organized spaces.
The state of conservation and renovations carried out:
Refurbished homes or those in an excellent state of preservation have an advantage in the market.
Properties that show good maintenance, no dampness, no excessive wear and tear… get better ratings.
Improvements such as insulating windows, renewable energy systems or renovations focused on modernizing the home also increase its attractiveness (and price).
Tourist demand and vacation rentals:
The importance of tourism in Fuerteventura’s economy cannot be underestimated.
A property with the potential to become a vacation rental vacation rental may have a higher valuation, due to the return on investment generated by this business model.
This is especially relevant in tourist areas, where the demand for temporary accommodations is constant.
Legal and urban planning factors:
Compliance with town planning regulations is crucial for the valuation of a property. It is important to verify that the property is regularized and has all the necessary permits.
If there is the possibility of extensions to the property or changes of use, this may influence the price.
Local market trends:
The real estate market in Fuerteventura is constantly evolving, influenced by factors such as foreign demand, economic fluctuations and the development of new infrastructure.
The construction of new services or the improvement of roads in an area can increase the value of nearby homes.
If you want to sell a property in Fuerteventura, a proper initial valuation is key to sell it quickly and at the highest possible value. A correct initial valuation completely conditions, for better or worse, the process of selling the property.
At Destiny Home we offer you a free, accurate and personalized professional appraisal, based on our knowledge of the local market.
Rely on local experts to get the most out of your operation.
