Kevin Tan
29-03-16, 11:11
http://www.theedgeproperty.com.sg/content/are-you-paying-too-much-pool-view
Are you paying too much for that pool view?
By Esther Hoon / The Edge Property | March 4, 2016 9:54 AM MYT
Tags: valuationA Treasure TroveCity Square Residences
Most people, if not all, are acquainted with the idea that residential units with a pool view, a north-south orientation or on high floors carry a price premium. While real-estate appraisers and seasoned salespersons can easily estimate this premium, the rest of us could do with a systematic way to establish such a premium. This would be useful when comparable transactions are lacking or if we simply want to do our own homework to ensure we get a fair value of the property.
The premiums for units with a pool view or north-south orientation or on high floors differ across different developments. However, there appears to be some thresholds that real-estate appraisers work with. We spoke with senior appraisers from four consultancy firms who declined to be identified.
As a broad guide, these appraisers apply a premium of 0.3% to 0.5% per floor level for private, non-landed projects in Singapore. If the price quantum of the subject property is large, a smaller percentage of 0.3% would be applied and vice versa. Separately, appraisers apply a premium of between 1% and 3% each for units with a pool view or north-south orientation.
http://www.theedgeproperty.com.sg/content/are-you-paying-too-much-pool-view
Are you paying too much for that pool view?
By Esther Hoon / The Edge Property | March 4, 2016 9:54 AM MYT
Tags: valuationA Treasure TroveCity Square Residences
Most people, if not all, are acquainted with the idea that residential units with a pool view, a north-south orientation or on high floors carry a price premium. While real-estate appraisers and seasoned salespersons can easily estimate this premium, the rest of us could do with a systematic way to establish such a premium. This would be useful when comparable transactions are lacking or if we simply want to do our own homework to ensure we get a fair value of the property.
The premiums for units with a pool view or north-south orientation or on high floors differ across different developments. However, there appears to be some thresholds that real-estate appraisers work with. We spoke with senior appraisers from four consultancy firms who declined to be identified.
As a broad guide, these appraisers apply a premium of 0.3% to 0.5% per floor level for private, non-landed projects in Singapore. If the price quantum of the subject property is large, a smaller percentage of 0.3% would be applied and vice versa. Separately, appraisers apply a premium of between 1% and 3% each for units with a pool view or north-south orientation.
http://www.theedgeproperty.com.sg/content/are-you-paying-too-much-pool-view