{"id":6365,"date":"2025-03-18T12:01:41","date_gmt":"2025-03-18T11:01:41","guid":{"rendered":"https:\/\/blog.destinyhome.es\/how-to-know-if-the-selling-price-of-a-home-is-correct\/"},"modified":"2025-03-18T12:13:12","modified_gmt":"2025-03-18T11:13:12","slug":"how-to-know-if-the-selling-price-of-a-home-is-correct","status":"publish","type":"post","link":"https:\/\/blog.destinyhome.es\/en\/how-to-know-if-the-selling-price-of-a-home-is-correct\/","title":{"rendered":"How to know if the selling price of a home is correct"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Determining whether the price of a property in Fuerteventura is fair requires a detailed analysis of the market and the characteristics of the property.  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you are looking to <strong>buy or sell a property on the island<\/strong>, at <strong>DestinyHome<\/strong> we will advise you every step of the way to make the best decision.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">  Whether it is a villa overlooking the Atlantic, an apartment in Corralejo or a rural house in the interior of the island, this investment not only involves a considerable sum of money, but also expectations and illusions.  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, determining the right price for a property can generate uncertainty and stress. Is the property overpriced? Is it selling below market? Is it a profitable investment?     <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At <strong>DestinyHome<\/strong>, experts in the <a href=\"https:\/\/blog.destinyhome.es\/en\/analysis-of-the-real-estate-market-in-fuerteventura\/\">Fuerteventura real estate market,<\/a> we help you answer these questions.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Factors influencing the price of a property in Fuerteventura<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The selling price of a property on the island depends on several internal and external factors:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Internal factors: characteristics of the property<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Location:<\/strong> A front line beach property in El Cotillo or Corralejo will be priced significantly higher than one in the interior of the island.<\/li>\n\n\n\n<li><strong>Square footage and layout:<\/strong> Square footage, number of bedrooms and bathrooms, and layout influence value.<\/li>\n\n\n\n<li><strong>State of conservation:<\/strong> Recent renovations, quality materials or if the property needs renovation.<\/li>\n\n\n\n<li><strong>Extras and services:<\/strong> Swimming pool, garden, garage, terrace with sea views, elevator, among others.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>External factors: the local real estate market<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Average price per square meter in the area:<\/strong> It is important to know the <strong>average price<\/strong> of housing in towns like Morro Jable, Puerto del Rosario or Corralejo (La Oliva). Check the <a href=\"https:\/\/blog.destinyhome.es\/en\/analysis-of-the-real-estate-market-in-fuerteventura\/\">Fuerteventura real estate market report<\/a>. <\/li>\n\n\n\n<li><strong>Market trend:<\/strong> Analyze historical prices to see if they are rising or falling on the island.<\/li>\n\n\n\n<li><strong>Demand and supply:<\/strong> In tourist destinations such as Fuerteventura, the <a href=\"https:\/\/blog.destinyhome.es\/en\/como-gestionar-el-alquiler-vacacional-de-un-piso-a-distancia\/\">demand for holiday homes<\/a> can have an impact on prices, so there are areas that distort the average values.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Methods to know the value of a property in Fuerteventura<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Comparison with similar properties<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The first step is to analyze the market and compare the property with other similar properties in the area.  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Real estate portals such as Idealista, Fotocasa or DestinyHome&#8217;s own real estate website, such as <strong><a href=\"https:\/\/destinyhome.es\">DestinyHome&#8217;s own real estate website<\/a><\/strong> can help you get references on current prices.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Professional appraisal<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">An expert appraisal will certify the real value of the property.  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Fuerteventura, real estate appraisals have these factors as essential:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Location and surroundings<\/li>\n\n\n\n<li>Nearby infrastructures and services<\/li>\n\n\n\n<li>Condition of the property (new, good condition, to renovate,&#8230;)<\/li>\n\n\n\n<li>Comparison with recent home sales in the area<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Do you want to know how much is your property worth in Fuerteventura?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Request a <strong>free appraisal<\/strong> with our experts &#8211; we are here to help you find the best price for your home or real estate investment!   <\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/www.destinyhome.es\/pages\/valoraciones\/\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"650\" height=\"75\" src=\"https:\/\/blog.destinyhome.es\/wp-content\/uploads\/2023\/09\/home-Valuation-fuerteventura.png\" alt=\"home-Valuation-fuerteventura\" class=\"wp-image-2156\" srcset=\"https:\/\/blog.destinyhome.es\/wp-content\/uploads\/2023\/09\/home-Valuation-fuerteventura.png 650w, https:\/\/blog.destinyhome.es\/wp-content\/uploads\/2023\/09\/home-Valuation-fuerteventura-300x35.png 300w\" sizes=\"auto, (max-width: 650px) 100vw, 650px\" \/><\/a><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>The housing profitability indicator<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>Price Earnings Ratio<\/strong> is a useful calculation for investors, which relates the selling price to the rental yield. <strong><a href=\"https:\/\/blog.destinyhome.es\/en\/profitability-of-vacation-rentals-vs-profitability-of-regular-rentals\/\">rental profitability<\/a><\/strong>. It is calculated by dividing the selling price of the property by the expected annual rent. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Example: If you buy an apartment in Corralejo for <strong>200,000 euros<\/strong> and rent it for <strong>1,500 euros per month<\/strong><strong>(18,000 euros per year<\/strong>), the PER would be:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>200,000 \/ 18,000 = 11.1<\/strong> \u2192 It would take approximately <strong>11 years<\/strong> to recover the investment.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">A ratio below 15 indicates that the purchase may be a good investment, while a P\/E above 20 may mean that the selling price is high.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Tools to evaluate the price of a house<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are different ways to obtain an estimated value of a property:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2705 <strong>Cadastral value:<\/strong> It is the value assigned by the tax administration, but it is usually below the market value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2705 <strong>Market value:<\/strong> Based on supply and demand, as well as economic and urbanistic trends.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2705 <strong>Online appraisal:<\/strong> At DestinyHome, we offer a free <strong>online<\/strong> <strong><a href=\"https:\/\/www.destinyhome.es\/pages\/valoraciones\/\">free online valuation service<\/a><\/strong> where you can get an estimate based on the characteristics of your property and the current market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2705 <strong>Fuerteventura real estate market reports:<\/strong> Destiny Home real estate agency publishes reports on the evolution of <strong>housing<\/strong> prices <strong><a href=\"https:\/\/blog.destinyhome.es\/en\/fuerteventura-housing-prices-and-number-of-transactions\/\">housing price evolution in Fuerteventura.<\/a><\/strong> in Fuerteventura.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/www.destinyhome.es\/pages\/valoraciones\/\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"650\" height=\"75\" src=\"https:\/\/blog.destinyhome.es\/wp-content\/uploads\/2023\/09\/home-Valuation-fuerteventura.png\" alt=\"home-Valuation-fuerteventura\" class=\"wp-image-2156\" srcset=\"https:\/\/blog.destinyhome.es\/wp-content\/uploads\/2023\/09\/home-Valuation-fuerteventura.png 650w, https:\/\/blog.destinyhome.es\/wp-content\/uploads\/2023\/09\/home-Valuation-fuerteventura-300x35.png 300w\" sizes=\"auto, (max-width: 650px) 100vw, 650px\" \/><\/a><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you are looking to buy or sell a property on the island, at DestinyHome we will advise you every step of the way to make the best decision.<\/p>\n","protected":false},"author":1,"featured_media":6351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[117],"tags":[580,293,559,294],"class_list":["post-6365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sell-house-fuerteventura","tag-fuerteventura-valuation","tag-house-prices-fuerteventura","tag-property-valuation-fuerteventura","tag-real-estate-valuations-fuerteventura"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to know if the selling price of a home is correct - DestinyHome Blog<\/title>\n<meta name=\"description\" content=\"Methods to know the market value of a property and set the right 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