How do you value a property?
To value a property, you determine its market value by comparison with recent sales of similar properties in the same area. You start from a reference price per square metre, then adjust it according to floor area, floor level, condition, aspect and the energy performance certificate (DPE).
What the value of a property is
The value sought in a valuation is the market value: the price at which a property could reasonably be sold on the valuation date, under normal market conditions, between a free and informed seller and buyer. It is distinct from the advertised price or the price the seller hopes for.
Market value is not a single, absolute figure: it is a range. Two serious professionals may arrive at slightly different valuations, which is normal. The aim is to narrow that range as closely as possible to the real market actually observed.
The steps of a reliable valuation
A sound valuation follows a structured approach, moving from the general to the particular.
- Define the property precisely: floor area under the Carrez Law (for a lot in a co-ownership), typology, number of rooms, ancillary spaces (cellar, parking space, balcony), floor level.
- Gather real transaction data for the area, notably via the DGFiP's DVF database and the notaires' databases.
- Calculate a reference price per square metre from genuinely comparable properties (same neighbourhood, same type, same period).
- Apply upward or downward adjustments according to the property's strengths and weaknesses: floor level, aspect, condition, energy label, facing views, nuisances.
- Compare the result with the current market (properties currently for sale) to account for demand pressure and time-to-sell.
The tools available
Several public and free sources make it possible to objectify a valuation. The "Demandes de valeurs foncières" (DVF, requests for land values) database, published as open data by the DGFiP, lists property sales over the past few years with the price, floor area and location. The "Rechercher des transactions immobilières" application (formerly Patrim), accessible from your personal account on impots.gouv.fr, lets you search for comparable sales, which is particularly useful for a tax return (inheritance, real estate wealth tax IFI).
Online valuation tools provide an instant first range, but remain algorithmic estimates: they do not visit the property and perceive neither its actual condition, nor nuisances, nor charm. They are a starting point, not a conclusion.
Frequently asked questions
Is a property valuation paid for?
A valuation carried out by an estate agency is generally free and without commitment, as it is part of a commercial approach. A formal appraisal carried out by an independent property valuer is, by contrast, paid for and results in a detailed, reasoned report.
What is the difference between market value and sale price?
Market value is the property's theoretical market value at a given moment. The sale price is the amount actually agreed between seller and buyer. They may differ depending on negotiation, the seller's urgency or the rarity of the property.
Can you value your own property yourself?
Yes. By consulting the DGFiP's DVF database and the prices of comparable properties actually sold in your area, you can establish a credible first range. A professional opinion remains useful to refine and secure the price before putting the property on the market.
Read next
- DGFiP - Base Demandes de valeurs foncières (DVF), data.gouv.fr et explorateur app.dvf.etalab.gouv.fr
- impots.gouv.fr - Rechercher des transactions immobilières (ex-Patrim), accès depuis l'espace particulier
- Notaires de France - Bases de données immobilières BIEN et PERVAL
- Service-Public.fr - Estimation de la valeur d'un bien immobilier
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