Malaysia Real Estate

[vasquale]

Property valuation is an issue which can be argue in different levels.
For an example : different company will certainly value a property differently which will result to a different value. Thus, it will create a lot of internal and external conflicts between private valuers, government valuers and not to forget the owner of the property.
One of the most common conflict between valuers is when land acquisition comes into picture. The owner ( whose land is effected from the land acquition) will definitely hire a valuer to value his/her land with a higer value while the government valuer will value the land in a much more lower value. And of course this will lead to high court and so on.

My concern is... is there any way we can determined the price or value of a property in a more systematic way which will give a more consistant value between valuers?
Maybe by using AI (artificial intelligent) that is the artificial neural network (ANN) rather than using the traditional method which is the multiple reggession analysis (MRA)?

Please comment. Thank you.

vasquale,
a student who is eager
to learn more about real estate.

All your comment and advice will be a stepping stone for me in my research.[/i]

[glen999]

[preacher]

There are a few ways to value property

(1) Comparison - Self explanatory. This is using the price transacted for similar properties.

(2) Residual value - The amount a company expects to be able to sell a fixed asset for at the end of its useful life. This is a bit more complicated for a layman like me to explain. Involves certain formulaes and calculations. Perhaps some experts here can help.

(3) Force sale value - This is the value that government valuers will be using in a land acquisition scenario. This is a akin to a fire-sale price which will be much lower than a willing buyer-willing seller as the buyer is willing but the seller is forced.
_________________
practise what you preach

[reEDU]

Hi all,

regarding to the inconsistancy of the value, it probably due to the quality of the comparable property being used and it is also subject to misconduct as well. In both party, either private or government valuer. But what i would like to stress here is, for the government valuer they have most up to date data to arrived with a market value and whereas private valuer they buy the data from government on certain period of time. Due to this, comparable property being used might be different and it result to diffent value.

There are basically 5 method of valuation:
1. Comparison
2. Cost
3. Residual
4. Income
5. Investment

and force sale value is not one of it, to confirm it just ask any property management or real estate 1st year student.

This different methods is being use to serve different purposes of valuation since they have different concept in it as well as the calculation. Comparison for instance, is being used for all type of property and most popular method. Income is use for the property which is generate income mainly from rent while investment method is for property with potential for development based on planning condition.

It is a software in the market we called it SPATIALEST: the integration between MRA + GIS + GEOSTATISTIC. and it will give us consistent value and it is very systematic. However, it is only the enhancement of comparison method and it require large amount data. Suitable for government valuer but not private.

If you wnat to know more about this profession, you may ask any lecturer in public university in malaysia. currently there are 4 universities offered this program at the degree level.

there are: Universiti Teknologi Malaysia, Universiti Teknologi Mara, Universiti Malaya and Kolej Universiti Teknologi Tun Hussein Onn.

[meiyee84]

how do i get the price ltransaction history....in certain area for eg:-ss3 or TTDI or shah section 7....and so on...where to get, where to buy?