As part of the site inspection and research, we check whether any specific development plans, building applications or already approved construction projects are known in the immediate neighbourhood.
Attractive new construction projects with high-quality fittings can enhance the entire surrounding area, while massive densification with a high building volume or commercial use can impair the light, view and tranquillity of the property being valued.
Since such effects often only become fully apparent after completion of the new construction project, they are usually only included in the appraisal report as a cautious estimate with a corresponding note of uncertainty.
Effects on the traffic situation, such as additional parking pressure caused by new neighbouring development, are also taken into account as part of the assessment, provided reliable information is already available on this.
In particularly dynamic urban development areas, a regular update of the value assessment is advisable, as the underlying conditions there often change faster than in established residential locations.
Please note: the content of this article is provided for general information only and does not constitute legal, tax, financial or investment advice. It is not a substitute for individual advice from a licensed lawyer, tax adviser or financial adviser. Despite careful research, we accept no liability for the accuracy, completeness or currency of the information provided. For specific legal or tax questions, please consult a qualified professional adviser.
