What is the cadastral value of a house?
It is the administrative value objectively established for every property.
To determine this value, the following parameters are taken into account:
- The location of the property.
- The urban planning circumstances that affect the land.
- Its market value and its production ability.
- The building cost of the materials.
- The use and quality of the materials.
- The age of the building.
- The historic/artistic nature and other conditions of the constructions.
- The circumstances and market value of the land, etc.
In general, the cadastral value of buildings cannot exceed the market value. In the case of property with an administratively limited sale price, the cadastral value cannot exceed said price under any circumstance. A property's cadastral value can be updated yearly by applying the coefficients approved by the relevant General Budget Laws.