Services

Property transactions such as sale and purchase often involve an assessment of market value  (Verkehrswert). Market values may also be required in connection with tax issues and mortgage lending. The market value represents the price which is likely to be achieved for a property under typical market conditions. Both value definitions are intended to be used synonymously.

Our market value (Verkehrswert) reports comply with all regulatory requirements, irrespective of whether these are prepared in compliance with international standards such as the RICS Red Book, TEGoVA, IVSC or German regulations such as Section 194 German Building Code (BauGB). Our valuations are also governed by other German legal regulations such as the German Property Valuation Ordinance (Immobilienwertermittlungsverordnung - ImmoWertV) and the valuation guidelines (WertR).

All our valuations are audit-proof and highly credible for litigation purposes. 

We work with the industry standard valuation software LORA.

Mortgage lending valuations prepared by us comply with the regulatory requirements of the German Pfandbrief Act (Pfandbriefgesetz), the Mortgage Lending Valuation Ordinance (Beleihungswertermittlungsverordnung - BelWertV) and the valuation guidelines of the Genossenschaftliche Finanzverbund für das Immobilienkreditgeschäft (Financial Association for the Real Estate Lending Sector). We also provide mortgage lending values in accordance with international standards (e.g. RICS, TEGoVA and IVSC).

In this case it is irrelevant whether the subject of the valuation is an existing property or the preliminary mortgage lending value is required for a property development. 

In the case of valuations relating to property developments, we provide follow-up progress reports during the construction phase right up until final completion.

We work with the industry standard valuation software LORA.

In the case of portfolio valuations we have experience with all asset classes including residential, office, retail, industrial, warehousing, logistics, hotel, restaurant, healthcare and other specialised property uses. 

We are experts in processing large amounts of data. Our research allows us to recognise localised clustering within portfolios and to assess the pros and cons of property allocation.

Our portfolio valuations include analyses of regional and local concentrations, use types, property volumes, overall vacancy, risk profiles and upcoming rental income streams by applying weighted unexpired lease terms and measurements for the achievement of target yields.

Thanks to the bulwiengesa team’s real estate market knowledge, we are in a position to help you develop strategies for asset management projects, portfolio allocation, exit and further investment/disinvestment.

The discounted cash flow valuation approach is an internationally accepted method used for the valuation of properties abroad but may also be used for properties located in Germany, as required. The value of a property is calculated by discounting future cash flows to the valuation date. This provides not only opinions as to the market value but also shows rental income streams generated by the property. This approach helps to put investment decisions on a level playing field.

This provides many advantages for our clients: improved liquidity planning, estimation of timing for asset management projects such as value-enhancing CapEx investments, prompt letting activities and the determination of the optimal point at which to sell.

We are also able to use other internationally accepted methods as required, such as the income capitalisation approach, the terms and reversion approach and the sales comparison approach.

We work with the industry standard valuation software ARGUS DCF. 

If you require an initial short-form valuation rather than a full valuation report, we are happy to offer a value estimate. 

The staff at bulwiengesa AG are also happy to offer you other property-related consultancy and valuation services such as brief analyses and comprehensive market and location analyses. Of course it is also possible to integrate these into a subsequent valuation and to adjust the valuation fee accordingly.