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Doutor Finances launches a property value simulator

Doutor Finances launches a property value simulator

The initiative aims to help Portuguese people get an approximate idea of ​​the fair value of the property when buying or selling a house.

Doutor Finances, a personal and family finance company, has launched a Property value simulator in partnership with Alfredo,artificial intelligence platform. This initiative aims to help Portuguese people get a rough idea of ​​the fair value of a property when buying or selling a house.

“For those who are going to buy or sell a home, estimating the value of the property is an essential step. Given that there are a series of factors that affect the value of the home, such as the location or specific characteristics of the property, this task is complex and, often times, not objective and emotional.” “Very much,” says Sergio Cardoso, Director in Charge of the Doctor of Finance Academy. “With this in mind, we introduce the Property Value Simulator, a tool that estimates the value of a home, by comparing it to the market and, more specifically, comparing similar homes in the same location,” he adds.

“In most cases, moving forward with the purchase or sale of a home involves undertaking a property evaluation, a process that is not always easy and can raise many questions,” the platform explains. In this sense, the simulator, which is based on data from transactions already executed and collected by Alfredo, can be key to understanding the value of your home, or whether the property you want to buy is within the market average.

To use this tool, simply enter the address of the property in question, indicate whether it is an apartment or a house, the total area (in square metres), rating, condition, what you intend to do with the property – buy or sell – and when.

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Regarding the location, it is possible to enter a more general reference (such as Leiria or Évora) but it is recommended to specify the address, so that the simulator can provide more realistic information.

For example, says Dr. Finance, using the Property Value Simulator, it is possible to verify that if you buy or sell a T2 in the municipality of Amadora with a total area of ​​100 square metres, the average price is around 184 thousand euros. In Vila Nova de Gaia, an apartment with the same characteristics is worth, on average, about 206 thousand euros.

“It is important to stress that the quoted value may not match an expert valuation, such as that undertaken as part of a bank finance application. Simulated values ​​are indicative and based on Alfredo's data. If you require a certified property valuation, you should contact a registered property valuer .