Key parameters for real estate comparative market analysis

 

In essence, real estate Comparative Market Analysis compares similar properties to the one you are looking at - in the light of various parameters that depend on the market you are in and the type of property - to evaluate transactional prices and the listed price of property ads.

When you run a CMA, it is essential the data you collect is for the most similar properties to the actual property you are evaluating, as per the following parameters, then factor in any possible minor differences when it comes to deriving the final estimated value:

  • Size: total; internal; balcony/garden
  • Unit type: residential, commercial, hotel or hotel apartments; number of rooms
  • Furnished or unfurnished
  • View: is the unit overlooking a lake, mountain, land-mark, marina, beach, park? Full unobstructed special view; partial special view; no special view – for instance, a community or street view; blocked view
  • Location: middle or corner unit; direct access to beach, mall, metro station, etc.
  • Age of property
  • Property finishing and quality of used materials and content
  • Property layout
  • Offered in one full payment or instalments

Discover how CMA can work best for you with The Art of Real Estate: https://booksarabia.com/the-art-of-real-estate-investment-from-entry-to-exit.html



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