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FAQ
A: The accuracy of the results is dependent on the amount of data we can collect about properties in that area. If the number of properties for sale, or amount for rent, is low then the data is less reliable. The meter represents how accurate the data is. We’ve removed any areas that have less than 3 properties so all data shown is accurate enough, but the more data we have the more accurate the results are.
A: You’ll notice on each property listing there are 4 blocks of information below, each color coded. The colors allow you to glance down a list of properties quickly to find the best deals. What used to take hours can now be done in seconds. For Price and Price per m², we look at all the properties in your search criteria and how each property compares to the average amount. If it is more than 5% above the average, it shows as red. If it is 5% above or below the average rate, it’s yellow. If it’s below 5% of the average then it is green. With long term and holiday letting prices it is slightly different. We look at the yield amount and if it’s below 3% it is red, between 4-5% yellow, and above 5% green. This allows you to scan down the property list very quickly to find the best deals simply by looking for the properties that have the most green.
A: No, sometimes people buy houses for emotional reasons not just price. For example, they like the area, or it’s closer to the sea, etc. Sometimes certain areas are more expensive by design. For example, if you search in Almancil, any property in the Quinta do Lago resort would show up as overpriced. However Quinta do Lago is an expensive resort area where people pay more money just to live there. In these cases it’s wise to search just in the area you’re looking for.
A: Most people simply look at the price where the savvy property buyer looks at both the price and the price per m². This is because price only tells half the story. If there are two houses both the same price, but one is 200m² and the other is 110m², clearly the one that is 200m² is the better deal and would likely be showing in green. If both are red, keep looking, there is likely a better deal. If the price is green but the m² is red, that means it’s a good price but when you look at the size of the property it is much smaller than the rest. So while it may seem the price is good, you’re paying much more than you should for the size of the house
A: We don’t have enough information for every locality to give accurate price predictions. If a property has less than 3 properties to compare with, we then expand our search and look at municipality data to find the predictive value.
A: This is because your search is too broad. Instead, further define your search by adding number of bedrooms, municipality, etc. Or you can sort by “Price m² Low to High” which generally shows all green properties. Then scroll down to find the quality of house you’re looking for as many of the first properties shown will be in need of refurbishment.
A: By selecting sort option “Price m² Low to High” it shows you all the cheapest properties along with their potential yield for investment. It compares the price to the average in the area.. If the average price is more than the price the property is selling for + renovation costs, then you have a pretty good idea of how much profit can be made on flipping the property.
A: When you do an area search you’ll see the “View on Map” button which will show you the properties in your search on a useful map that allows you to look right down to the street level for each property for sale.
A: This is due to the agencies adding incorrect lat/long gps locations to their listings. They do this so that other agents don’t go and try to steal their clients and their commission. Unfortunately for us it means the gps location shown on the map isn’t always as accurate as we would like it to be.
Yield for this property is over 5%
Yield for this property is 3-5%
Yield for this property is below 3%