When a residential vendor considers the asking price for his property, there are several parameters that he must take into account, in order to reflect the “right” price for sale. Of course, at the end of the day, the sales price is set by demand and supply, the economic conditions of the country etc. But other than these general parameters, we list below some of the main considerations that one vendor should take into account.

For these parameters we place a score starting from 1-10 according to the importance that potential buyers/the market places. These suggested items and the scores, cannot be considered as being absolute, since each potential purchaser has his own priority/score basis.

• Age: Age plays an important role in pricing, since in this part of the world houses/units over 20 years old are considered as old notwithstanding that in other countries, such as the U.K. on old property is looked upon with an average age of over 40-60 years - Score 7.

• Design: It is gaining in importance and over the last years it has become a main parameter. Notwithstanding the fact that most properties are sold with an artist impression (off plan) this item, especially when the unit is ready, has a major role - Score 5.

• Facilities: Items such as air conditioning, central heating, satellite, pressure system, heated pool, Jacuzzi, electric gates, electric shutters, alarm/security systems etc are also on an increasing scale of importance, especially so as one reaches to the higher end of the market - Score 4.

• Location: As always it is an important item but the distance from the town does not play the important role that it did a few years ago. As long as the property is close to a good highway/motorway exit, the distance of up to 10 kms away from the town center is not a major drawback. In terms of location what is more important is the local environment, views, proximity to sea etc, their proximity to the town - Score 6.

• Quality of Materials: More important to some rather than others. Granite floors and flashy built in features, are more important to Arab & Russian clients than locals and other Europeans. Nevertheless good quality of materials is a must and their importance increases as the price/cost of the property increases. Basic materials such as marble/parquet floor/double glazing/shutters, fitted imported kitchen or good quality local kitchens and above all good quality of workmanship (not often found) are important - Score 4.

• Named Locations: More important to locals than foreign purchasers. For example, the “green area” (at Limassol), Penhill (at Nicosia), Phaneromeni (at Larnaca) etc, are an address for service. Foreign buyers are not so bothered and they place more importance to the quality of the immediate neighborhood - Score 3.

• Immediate Neighborhood: We will say that a radius of around 500 meters is crucial to establish the quality of the neighborhood. Well maintained, good quality buildings, the absence of multi storey buildings and those with units on columns etc, help towards the upgrading. Again the larger the size of the garden, the lesser importance the neighborhood/immediate environment becomes - Score 3.

• Named developer/designer: Not so important as in other countries. The very recent years a couple of local developers in Nicosia have acquired a name for themselves (which is reflected by attractive architecture and quality of finishes). These developers are now asking and getting above the normal rates, simply because of their “brand” name - Score 3.

• Plot Size: A comfortable plot size is around 2-3 times the size of the building (if single unit). Anything more than this will not be necessarily compensated by the market with its full price (save in agricultural areas). A normal size is over 1½ times the size of the building - Score 3.

• Titles Availability: Surprisingly not a great importance is placed for the lack or availability of title. With the increasing publicity that this items is having nowadays, its scoring will increase (with less importance for the locals) - Score 3.

• State of Repair: If ready “do whatever it takes” to do the property up including bathrooms and externals - Score 4.

• Selling Agent: More important to locals rather than foreigners, who feel more secured by dealing with a “name” selling agent with years of history and honest dealings - Score 2.

• Financing: With the nowadays shortage of finance, if you could help towards long term funding, your potential purchaser (even if he takes over your own loan) is very important - Score 3.

• Garden: A well maintained garden is an eye catcher, especially if your garden has grown up trees, a B.Q., an attractive fence with a remote control gate, garden lights etc.

• Other Items: The list is endless including items such as availability of shutters, ordinary C.H. radiators, as opposed to floor heating, open fireplace, Jacuzzi in bathroom, satellite etc etc. Most of the remaining not listed items are not of such a major importance, but, again, every bit counts especially during these lack of buyers times.

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