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Condominium Unit Valuation
Requesting for the appraised price of the condominium? Checking the appraisal price of the condominium? What is the appraisal price of the condominium’s maintenance fee? Price of the second-handed condominium or appraise your condominium? Know more about condominium valuation in Thailand?
The condominium can be divided into 3 types which are for residential, office space or commercial use. When speaking about the condominium, everyone will think about subunits of rooms located inside of the vertical building, registered as subunits and the document of right will be issued as condominium deed or AOR CHOR. 2, which can be purchased with full ownership. The condominium’s unit can be appraised by using these 3 valuation methods which are first, ‘Market Approach’ by comparing the selling price with the other units within the same or different project development. The second method is the ‘Cost Approach’ to calculate the current price of land which is where the project locates on, average equal to the ratio of the common property of the appraised condominium together with the average price of a building based on the combination of the apartment area will be the cost of the unit. The last valuation method is the ‘Income Approach’ in which we are able to determine the rental fees of condominium units within the same or even different project since the renting of the condominium is very diverse which makes it comparable. On the other hand, the rate of return on condominium investment is a clear market figure. Therefore, the income approach can be applied. In case there are many units, the factors that might have to be considered are the purpose of the valuation reports. For some trading purposes, may consider the need for buying and selling the whole port similar to ‘Portfolio Valuation’ which is an agreement of valuation based on a specific purpose case by case.
