Property Valuations

[Dazzler]

I have a condo in Bangkok.

If I want a valuation on:

i) The saleable value of the property,

ii) The rentable value.

1. Would I expect to be charged by a property company for this? If so, roughly how much?

2. Which are the recommended companies to use; property companies (CBRE, Knight Frank), banks..?

Edited March 8, 2007 by Dazzler

[thedude]

the most practical and reliable way is to ask around, building management perhaps, if any apartment in the building was recently sold or rented out. the immediate market price around you is the best and fairest meansurement.

you can ask your bank that funded your mortgage what the valuation price was, but it will be conservative becuase they use it to determine a reletively low risk lending price.

large consultants like knight frank and cbre will probably not do it for you as its too small a deal, they will refer you to the market, as i have.

small consultants, well, i guess you can just name your value and that will be what you see in the report.

[Sunbelt Asia]

I have a condo in Bangkok.

If I want a valuation on:

i) The saleable value of the property,

ii) The rentable value.

1. Would I expect to be charged by a property company for this? If so, roughly how much?

2. Which are the recommended companies to use; property companies (CBRE, Knight Frank), banks..?

Agency for Real Estate Affairs is one of the selected few property valuation providers on all three approved short lists of The Bank of Thailand (BOT), The Securities & Exchange Commission of Thailand (SEC) and The Property Loan Management Organization (PLMO).

http://www.area.co.th

www.sunbeltasiagroup.com

[billaaa777]

Dazzler, this is my business, in Pattaya not Bangkok. I can’t help you there. As “thedude” mention finding out the recent sales prices of units in your building or comparable buildings close by can give you a rough idea. But, that’s all they can give you is a rough idea. The values fluctuate according to some of the following circumstances, such as; the floor of the condo, the side of the building, the view and most importantly the quality of the renovation itself.

An easy way, with no expense to you to gain an accurate estimate our the sales price or rental price is to bring in three or four of the largest real estate agents that operate in you location. There the ones that know what’s selling and renting and the prices their getting. You need to be a little careful here, some of them might low ball you to get a quick sale. So the more you bring in, the better.

In addition, you should search the classifieds, the real estate agents web sites and the real estate related magazines.

[ProThaiExpat]

In my view, if you invite real estate agents to make "appraisals" of your condo with the view of obtaining you as a client for selling the condo, they are more likely to overprice the unit to get the listing and then later get you to lower the asking price, after they have a long term listing.

Condos are far easier to value based on "comparables" since amenities play less of a role. Start with your sq. meter size as the most defining feature, then factor in the floor, you should see a gradual increase of prices in the same building based on the floor and then the quality of the building such as management, security, amenities, etc.

Clearly, a unit without interior washer/dryer suggests an apartment conversion vs. a true condo and that affects price. With a little work, you should be able to reach a fairly accurate cost per sq. meter of comparable condos in other buildings or even within your own, and you as close as you are going to get.

Many negatives of a condo, ie. a building blocking your view, will not matter to some, but overall, should be considered in valuation.

Most professional real estate agents active in the condo market should be able to give you an accurate suggested selling price, especially if they have computer databases of recent sales.

[quiksilva]

I'm a Director of Knight Frank here. We also hold licenses from every major regulatory body in the country and are the preferred appraisers of many major financial institutions and multinationals.

We have one of the largest valuation teams in the country but typically undertake large scale portfolio appraisals for Public Listed Companies, MNC's and the like.

We will also value condominiums and houses on a case by case basis, but this is not a core business for us. The fee will be dependant on the size and value of the property.

For further details reach us on 02 6438223, or visit our website at www.knightfrank.co.th

or PM me with details.