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Appraisal of penthouses

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In Tecnitasa Group, we are experts in the appraisal of penthouses with more than 50 years of experience in the sector. We offer a professional and personalized service, thanks to our more than 400 professionals.

The appraisal of penthouses is a technical and regulated process that allows to determine the real value of this type of properties, which stand out for their exclusivity in the real estate market.

Penthouses have differentiating characteristics, such as privileged location on the top floors, large terraces and panoramic views, factors that require a detailed analysis to establish a market value in accordance with current regulations ECO/805/2003. A professional appraisal is essential both for purchase and sale transactions as well as for financial procedures, such as mortgage applications, inheritance or insurance policies.

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>What is the appraisal of a penthouse?

The appraisal of a penthouse is a technical procedure by which an approved appraisal company analyzes and values this type of property, taking into account its unique characteristics and external factors that influence its market value.

This process follows the Spanish regulations regulated by Order ECO/805/2003, which establishes the valuation criteria applicable to real estate to guarantee the objectivity and validity of the report. The main objective is to provide an impartial valuation that meets the standards required by financial institutions, official bodies or buyers and sellers.

Unlike other residential properties, penthouses present particularities such as access to private outdoor spaces (terraces), greater privacy and, often, luxury finishes. These characteristics imply a more complex and detailed analysis compared to standard homes.

> Key factors influencing the appraisal of a penthouse apartment

In the appraisal of a penthouse, the appraisal firm evaluates a number of intrinsic and extrinsic factors to determine its value, these factors include:

Views and orientation are determining factors in the value of a penthouse:

  • Unobstructed or panoramic views: Penthouses with views of the sea, mountains, parks or urban skylines are rated higher due to their visual appeal and the exclusivity they provide.
  • Orientation: South or east orientation is preferred for natural luminosity and energy savings, aspects highly valued in today’s market.

The terraces in penthouses are a differential element. Their size, design, accessibility and possibilities of use (leisure areas, gardens, pergolas) have a direct influence on the appraisal. According to the valuation criteria set out in the regulations, their proportional weight on the total value of the property is calculated based on their functionality and usable area.

Construction materials, luxury finishes, energy efficiency (certified by the regulations of Royal Decree 390/2021) and home automation systems are differentiating elements that increase the value of penthouses. In addition, exclusive or signature architectural designs often add a component of revaluation.

Construction materials, luxury finishes, energy efficiency (certified by the regulations of Royal Decree 390/2021) and home automation systems are differentiating elements that increase the value of penthouses. In addition, exclusive or signature architectural designs often add a component of revaluation.

> Why is it important to appraise a penthouse?

Appraising a penthouse is a key step to accurately determine its real value, especially due to the unique characteristics that differentiate it from other properties. This process not only brings transparency and security to real estate transactions, but is also indispensable in various legal and financial procedures:

A professional appraisal carried out in accordance with current regulations guarantees a fair valuation based on the unique characteristics of the property. This is essential to avoid overvaluations or undervaluations that may negatively affect transactions.

Determining a competitive price allows the owner to position the penthouse properly in the market, facilitating a quick sale or maximizing rental income. In addition, the appraisal helps to justify the price to potential buyers or tenants.

In order for a financial institution to accept a property as mortgage collateral, it requires an approved appraisal in accordance with Order ECO/805/2003. This ensures that the value of the penthouse adequately supports the amount of the loan requested, allowing the bank to finance up to 80% of the value of the property.

The appraisal of a penthouse is essential in processes of patrimonial partition, especially in cases of inheritance or dissolution of matrimonial societies. It allows to assign fair values and to avoid legal or fiscal conflicts between heirs and owners.

Knowing the exact value of the penthouse helps to contract an adequate coverage against claims. An appraisal report guarantees that the insured value corresponds to the real price of the property, avoiding taking out insurance policies that are inferior to the characteristics of the property.

Advantages of hiring a professional penthouse appraisal service

Valuations adjusted to the current market

In Tecnitasa Group our professionals have experience and specific tools to analyze the real estate market in real time, considering local aspects such as demand, supply and price trends. This ensures an updated report adjusted to the economic context.

Experience in high value properties

Penthouses, being exclusive properties, require professional specialists with advanced knowledge in valuation of high value properties. We are leaders in this segment, which allows us to identify the factors that make the difference in the market with great rigor and detail.

Discover our residential real estate appraisal services

In addition to penthouses, Tecnitasa Group offers appraisals of all types of residential properties. Its specialist team
applies specific criteria for each type of property, adapting to the particular needs of clients.

Appraisal of apartments
Appraisal of storage rooms
Official mortgage appraisal
Appraisal of houses
Valuation of garages
Luxury appraisal

Latest news on the residential market

Check our blog for up-to-date news and specialized articles on the residential real estate sector. We offer information on trends, market changes, regulations and advice for owners and investors in this segment.

Looking for a penthouse appraisal company ?

Tecnitasa Group has a wide network of more than 50 offices, which allows it to take on projects thanks to its expert team in residential real estate appraisals, ensuring accurate reports adapted to each market.

Frequently asked questions about penthouse appraisals

The penthouses have unique characteristics such as privileged location, terraces and views, which require a more detailed and personalized technical analysis.

Once the estimate has been accepted and the technician has visited the property, the report is usually delivered within 3 to 7 working days, depending on the complexity of the property and the availability of documents, provided that there are no incidents.

Among the essential documents are the following:

  • Title deed.
  • Simple note from the Registry.
  • Cadastral record.
  • Plans of the property.
  • Energy efficiency certificate.

Spacious and functional terraces significantly increase the value of the penthouse. Unobstructed or panoramic views add exclusivity and attractiveness, directly influencing its final value.

In order to apply for a mortgage in Spain, it is essential to carry out an official appraisal of the property. This procedure is stipulated by Spanish regulations, in particular by Law 5/2019 of March 15, 2009, which regulates real estate credit contracts, and Order ECO/805/2003, which defines the appraisal standards necessary to ensure transparency and protection for both the applicant and the bank.

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