How important is the location of a property?

You have found a new job in a new city and now have to sell your property with a heavy heart? In order to be able to determine the optimal sales price, the location of the property is not unimportant. But what is it about A, B and C locations?

Many owners tend to compare the selling price of their property with offers on property portals. Apart from the fact that offer prices do not represent sales prices, the location of the property always plays a central role. Many people ask themselves, not without reason, what A, B and C locations are all about.

A, B and C locations are not clearly defined. However, it is generally accepted that large cities of international importance and with high demand for real estate belong to the A locations. These cities include Berlin, Hamburg and Munich.

B and C locations, on the other hand, are not so easy to define. Locations in the B-location are usually cities with great regional and national importance. These include, for example, cities with more than a quarter of a million up to around 650,000 inhabitants. Hanover is an example of this. So if you go by this, C-location cities are smaller and less nationally relevant than B-cities, such as Heidelberg.

But it is not only the location classification that is important when selling a house, because the micro and macro location should be considered just as much. Even in A-location cities, there are districts or streets that are less desirable than others. For example, a district with many prefabricated concrete slab buildings is usually less attractive than central old town locations. In addition, the surroundings of a location are analysed. How good are the transport connections, or the public transport connections; are there shopping facilities for daily needs such as groceries; are there doctors, pharmacies or schools nearby? But noise pollution or air pollution are also among the factors that influence the value of the property. In the case of the macro-location, the regional infrastructure, the economic power of the region, the purchasing power of the population and, of course, the supply and demand for real estate determine the value of a property, among other things.

In the case of the macro-location, the regional infrastructure, the economic power of the region, the purchasing power of the population and, of course, the supply and demand for real estate determine the value of a property, among other things.

The biggest decision factor when it comes to the location of the property is most likely the price. Even if prices are very high in A locations, they are not automatically cheap in all B and C locations. But in most cases the following applies: B and C locations are cheaper than A locations.

With a targeted upgrade of the property, such as a new heating system, a new roof or thermal insulation, a higher sales price can certainly be achieved. A professional estate agent knows through his many years of experience which upgrades are worthwhile before a property sale.

Would you like to know how much your property is currently worth? Contact us! We will be happy to advise you.

 

Not found what you are looking for:

https://en.wikipedia.org/wiki/Market_(economics)

https://de.wikipedia.org/wiki/Immobilienmarkt

https://en.wikipedia.org/wiki/Real_estate_agent

 

Legal note: This article does not constitute tax or legal advice in individual cases. Please have the facts of your specific individual case clarified by a lawyer and/or tax advisor.

 

Photo: © Max Böttinger/Unsplash.com

 

 

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