Which apartments are truly comparable to mine?

Start with your own apartment

Prepare a profile as at the chosen valuation date: address and orientation, documented area, layout, floor, actual lift access, outdoor areas, condition and occupancy status. With a lift, for example, it matters whether it reaches the apartment level or leaves half a flight of stairs. In the room count, a walk-through room differs from a separately accessible bedroom. Such details determine which buyers can use the apartment effectively.

Add the building: construction period, visible state of repair, energy supply, known works and financing status. A freshly renovated unit in a building needing refurbishment has a different starting point from an equally fitted apartment after completed building refurbishment. Give every detail a source: plan, contract, property manager, inspection or information not yet verified. The quality of this starting sheet limits the quality of every subsequent price conclusion.

Which characteristics belong in the comparison matrix?

Record the same characteristics for every candidate. A neighbouring district may be a better match than another street in the same district. Check the specific surroundings, courtyard or street position, sunlight and accessibility. Avoid an overall score that mathematically offsets, for example, an uncertain right of use against a fine view. Record which differences can be explained and which make the candidate unsuitable for the intended comparison.

Price type and timing must match

The sales comparison approach under § 4 LBG is based on prices actually achieved for comparable properties. Differing characteristics, changed market conditions and special transaction circumstances must be transparently taken into account. The LBG's statutory scope concerns judicial valuations in particular; its comparison logic also offers a traceable guide for private preparation.

Therefore label a listing price as an asking price even if the listing later disappears. That establishes neither that a sale occurred nor the amount paid. A purchase contract can show important price and package components; the land register's collection of deeds is generally open to inspection. An old completion remains old even if you retrieve it only today. Note the contract date and research date separately.

Foundations: RIS [1] · RIS [2] · oesterreich.gv.at [3]

Check purchase packages and unusual cases

A total price may include the apartment, parking space, furniture or further units. Split it only if the components are sufficiently evidenced and can be valued appropriately. A merely assumed garage amount does not create a reliable adjustment. Family transactions or particular encumbrances may also explain a price without its representing the ordinary market for your apartment.

Alongside suitable cases, keep a short exclusion list. One candidate might remain on hold because of unknown tenancy restrictions; another may be excluded because a package purchase cannot be split. This prevents attractive individual prices from later slipping back into the calculation unnoticed. Record duplicate listings for the same property as one case and retain their respective price history.

Foundations: RIS [1]

How does the collection become a reliable selection?

Classify every case as a good match, usable only with justified adjustment, or currently unsuitable. This classification is a working decision, not an automatic valuation result. The more significant differences that would need simultaneous correction, the weaker the evidence from an individual comparable. If a standard lift or balcony premium is used, ask for the data from which it was derived.

If only a few suitable completed purchases remain, the valuation should disclose this data gap and, where appropriate, draw on further sources of information. An average of many unsuitable listings cannot replace good comparability. For the initial discussion, a small, clearly justified selection with unresolved questions is sufficient; there is no universally correct number of comparable apartments for your preliminary research.