Real Estate Pricing: Evaluation and Comparison
This lecture covers the evaluation of real estate prices, helping potential buyers formulate offers, determine acceptable prices, and assess willingness to pay. Various strategies are discussed, such as comparing prices of different properties, adjusting for quality differences, and using income as a quality indicator. The importance of property characteristics like size, location, environment, soil quality, construction quality, and typology is highlighted. The concept of multi-criteria analysis is introduced, including establishing comparison criteria, creating a scoring system, applying weights, and evaluating properties. An example of comparing administrative buildings based on price, usable area, and age is provided. The lecture concludes with a discussion on using income multipliers to measure property quality and ensuring buyers do not overpay.