using a direct comparison method, ascertain a market value of a leasehold interest in a condominium unit located on the 5th floor of 12 storey condominium block known as A0505, Block A, Estana Court, Jalan Haji Mokhtar, Kampung Pasir, Hulu Kelang, Ampang, Selangor. The unit has a floor area of 74.32 square meter. Its currently unoccupied.
1 square meter = 10.7639 square feet
74.32 x 10.7639 = 800 square feet
Property 1
|
Property 2
|
Property 3
|
Subject Property
|
Block A Unit A0417 Level 4 800 sf 3 Room 2 Bath RM 230k 28th Nov 2016 normal transaction normal unit middle floor non bumi vacant - ? |
Block A Unit A1201 Level 12 1,615 sf 5+1 Room ? Bath RM 240k 9th March 2017 normal transaction duplex high floor non bumi vacant - ? |
Block A Unit A0104 Level 1 800 sf 3 Room 2 Bath RM 95,600 13th June 2012 auction transaction normal unit low floor bumi vacant - ? |
Block A Unit A0505 Level 5 800 sf 3 Room 2 Bath RM? ? normal transaction normal unit middle floor non bumi vacant - yes |
i) Given that the property price differences between levels 1% and -1%. Analyses the sale comparable tabulated above and make necessary adjustment. State justification of your analysis.
using the analysis in i) calculate the market value of the condominium unit for financing purpose
Answer
we assume the building cost is RM 121
RM 230k
800sf Building Cost RM 121 x 800 = 96,800 Land Value RM 230k - RM 96,800 = RM 96,570 |
RM 240k
1,615 sf RM 121 x 1615 = 195,415 RM240k- RM 195,415 = RM 44,585 |
RM 95,600
800sf RM 121 x 800 = 96,800
RM 230k - RM 96,800
= RM 96,570 |
?
800sf RM 121 x 800 = 96,800 |
Base on the information given above. Adjust the
a) percentage
b) new land value persf
Base on the information given above.
Land Value Persf = RM 276 per sf
Total Land Area = Standard Area + Extra Land Area
3038 sf = 1650 sf + 1388 sf
Building Cost = RM 121 per sf
Total Build Up = Floor Area + Ancillary Area
2100 sf = 1780 sf + 320 sf
Find out the
a) Land Value
b) Building Cost
c) Property Value
