Thinking of arranging a mortgage? Then you must have come across the term price map. What does it mean and what does it tell you?
What is a price map?
A price map is a map that shows the current market price of land, flat or house in the Czech Republic. When it comes to real estate, you may encounter:
- A property price map that tells you how much properties are selling for in a particular area.
- A land price map, which tells you how much a square metre of land costs in a given area.
- The price map of rents in turn shows the average market rents in apartments.
- Apartment price map
- Price map of sales prices
Did you know that in order to create a price map, the prices obtained from the market need to be sorted and cleaned of various externalities that could distort the resulting price?