Abstract

TAVARES, Fernando; MOREIRA, António  and  PEREIRA, Elizabeth. Real estate appraisal: two cases on the importance of the views as externalities. Rev. Portuguesa e Brasileira de Gestão [online]. 2012, vol.11, n.4, pp.02-13. ISSN 1645-4464.

This article is part of an academic research about real estate appraisal in Portugal. Its main objective is to evaluate, on one hand, positive externalities generated by the views to the ocean and by the project layout and, on the other hand, its impact on property values. Methodologically, two real estate properties were analyzed. One is located in Espinho, targeted to the residential market segment, and another in Troia, belonging to the tourism and leisure segment. In the Espinho property, the most influential positive externality with the largest contribution, is the variable “views to the ocean”, being followed by the variable “floor”. As regards the Troia Resort property, the variable that most contributes to positive externalities is the proximity to the “marina”. Unlike the analyzed residential property, the ground floor is the most important one in the Troia property.

Keywords : Externalities; Real Estate Appraisal; Real Estate Investor; Views; Layout.

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