If you’re considering buying or investing in an apartment, understanding the hallmarks of high-value properties is crucial. Here are some key indicators that will help you identify such properties for a good return on your investment.
A Good Location
Location is one of the first things to consider when identifying high-value properties. Those in urban locations with frequent community and neighbourhood improvements often hold more value. This is why urban apartments acquire the highest values in modern real estate markets.
Size and Usable Space
Image by Cinnamon Life Apartments
Larger apartments or properties with more usable space, like Cinnamon Life Apartments, often hold greater value among buyers and appraisers. Usable space is often defined as living space which often does not include basements or attics unless they are furnished or used for additions.
Age and Condition
Physical characteristics tend to depreciate with time, which is why newer properties under reputable property development companies in Sri Lanka, and are higher in value. On the other hand, apartments and homes that are upgraded or renovated are also accorded higher values by appraisers and sellers.
Supply and Demand
If there is an increase in demand property values tend to rise, especially if there is a relative shortage in supply. This is why it is important to scope out the market to understand supply and demand.