Goodwill Assessment Study
A real estate appraisal goodwill assessment study report is a detailed study to determine the contribution of certain features of an immovable property, especially its location and structural features, to the value of the property.
The goodwill assessment study is usually carried out in large projects, housing estates or multi-storey buildings to reveal the differences in the value of apartments, offices or shops relative to each other. The purpose of this study is to ensure that each unit is fairly appraised.
The main elements considered in the goodwill assessment study report are as follows:
- Location Factor:
- Floor and Facade: Upper floors are generally more valuable than lower floors. The facade factor is evaluated according to the view and sunlight intake.
- Neighboring Units: Factors such as location relationship with neighboring units, noise and privacy are evaluated.
- Internal Features of the Property:
- Area of Use: The square meters of the property and the efficiency of its use.
- Number and Distribution of Rooms: Number of rooms, room sizes and usefulness of their distribution.
- Equipment and Quality: Quality of interiors, quality of materials used, level of equipment.
- Social and Physical Infrastructure:
- Parking: Parking facilities and utilization of this facility.
- Common Areas: Availability and accessibility of common areas such as gardens, swimming pools, gyms, etc..
- Security: Availability and quality of security services.
- Environmental Factors:
- Transportation: Proximity to public transportation and main roads.
- Infrastructure Services: Proximity to important infrastructure services such as shopping centers, schools, hospitals.
- Legal and Zoning Status:
- Title Deed and Zoning Status: Title deed status and zoning permits of the property.
The goodwill assessment study determines the value differences of each unit relative to each other, taking into account the above factors. These differences are usually expressed in percentages and the value of each unit is determined using these percentages in the final appraisal report.
This type of report is especially important for contractors, construction firms, investors and property owners because it provides a fair and transparent appraisal of each unit.
