How Much Is Location Really Worth? Same Square Footage – A Completely Different Price.

Two properties can have the same floor area, a similar layout and almost identical condition, yet still achieve completely different prices. The reason is usually location. The experience of Eurovilla’s agents shows that buyers are not paying only for an apartment or a house, but also for the everyday lifestyle that comes with a particular address.

Location is therefore not just the name of a city or neighbourhood. A property's value is influenced by the street, the position of the building, traffic, nearby amenities, the view, parking and planned development in the surrounding area. Sometimes, moving just a few hundred metres can result in a noticeable difference in price.

The city and neighbourhood are only the starting point of the valuation

Buyers often begin their search by deciding that they want to live in a specific part of the city. However, an entire neighbourhood rarely has the same value throughout.

One part may be quiet, green and well connected by public transport, while another may be located next to a busy road, an industrial zone or an area with difficult parking. Properties can be located within the same postal area while offering a completely different quality of life.

For this reason, the average price per square metre for an entire neighbourhood should only serve as an initial reference. For a realistic valuation, properties should be compared with others in very similar micro-locations.

What makes a good micro-location?

A good micro-location usually combines easy access to amenities with enough peace and quiet for comfortable everyday living.

Proximity to schools, kindergartens, shops, pharmacies, public transport and green spaces is particularly important to families. Younger buyers may place greater importance on proximity to business districts, the city centre, restaurants and social amenities.

Value is not increased only by the distance from a certain point, but also by the quality of the route leading to it. An apartment may be close to a tram stop, but if reaching it requires crossing a busy intersection or using an unpleasant underpass, buyers may not perceive that proximity as an equal advantage.

A quiet street is often worth more

Traffic has a major impact on property value. An apartment facing a main road may be exposed to more noise, dust and less privacy than an almost identical apartment in a nearby quiet street.

The difference is particularly noticeable on lower floors, in houses and in properties with terraces. Outdoor space has less practical value if noise makes it unpleasant to use.

On the other hand, a completely secluded location can reduce convenience. Buyers usually look for a balance between a peaceful environment and good connections with the rest of the city.

Views and orientation are more than aesthetic details

An open view of the sea, city, greenery or a historic centre can significantly increase buyer interest. On the coast, a sea view is one of the key elements that distinguish an average property from a premium property.

However, not every view is permanent. Before buying, it is important to check whether future construction may be permitted on neighbouring plots. A property marketed with an open view today may be facing a new building a few years later.

Orientation also affects the amount of natural light, summer temperatures and heating or cooling costs. South- and west-facing properties are often more desirable, although their impact on value depends on the climate, the floor and protection against overheating.

Parking is becoming an increasingly important part of location

In city centres, a property's value can depend heavily on the availability of parking. An apartment without its own parking space in an area where parking is an everyday problem may be less attractive even if it has an excellent interior.

A garage or private parking space is particularly important to families and buyers of higher-end properties. On the coast, vehicle access is often crucial because attractive properties in historic centres can be difficult to reach or located in areas completely closed to traffic.

Buyers should therefore check not only whether parking is available nearby, but also how reliable it is during working hours, the tourist season and in the evening.

Future projects can increase or reduce value

Location changes over time. A new school, public transport connection, park or renovated promenade can increase the attractiveness of an entire area. On the other hand, the construction of a major road, business complex or multi-storey building can increase noise and congestion while reducing the quality of the view.

Development announcements are often used as a selling point, but buyers should distinguish between officially confirmed projects and informal plans. It is not enough for someone to claim that "a tram line is coming soon" or that the surrounding area will be completely redeveloped.

Before buying, it is useful to check spatial plans, planned developments and the designated use of neighbouring plots.

A premium location does not justify every price

A good location can increase a property's value, but it cannot completely compensate for poor documentation, an impractical layout or serious technical problems.

Buyers sometimes overpay for a property simply because of a prestigious address, while overlooking the need for major renovation or the lack of a lift and parking. On the other hand, a high-quality property in a developing part of the city may offer a better balance between purchase price and long-term value.

It is important to distinguish the prestige of a location from the actual quality of life it provides.

An address determines more than the price per square metre

Location affects daily commuting time, transport costs, access to amenities and the potential for future sale or rental. For this reason, it is one of the few property characteristics that cannot be changed after purchase.

Walls can be repainted, a bathroom renovated and a layout partially adapted. A busy street, lack of amenities or poor transport connections remain.

Eurovilla helps clients assess not only the property itself, but also the true value of its location. Contact us to understand what a particular address offers today and how its value may develop in the future before making a purchase.