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Property 1 2 3
Location:
All comparable properties and subject property are in same commercial area, which is
Taman Cheng Baru. However, comparable property 2 located at a different street
from three other properties. Comparable property 2 located at Jalan Seri 7 which its
location is less strategic compared to three other properties as comparable property 2
is not facing the AMJ highway whereas three other properties are facing the AMJ
highway. Hence, percentage adjustment of 5% is added on comparable property 2 to
achieve similar value with subject property.
Date of Transaction:
The date of transaction affects by market conditions and economic factors such as
inflation and interest rate. Comparable property 1 is transacted in the same year with
the valuation of subject property so there will be no percentage adjustment due to only
seven months apart of duration of transaction for these two properties. Comparable
property 2 was transacted on 23/12/2022, that is one year apart with the date of
valuation of the subject property. Hence, a 5% of percentage adjustment need to be
added to achieve similar condition with subject property. Besides, comparable
property 3 was transacted on 22/9/2021, that is two years apart with the date of
valuation of the subject property. Hence, a 10% of percentage adjustment need to be
added to achieve similar condition with subject property.
Build Up Area:
The build up area of subject property is 2929 sq ft whereas all three comparable
properties have the same build up area with subject property. Hence, there are no
percentage adjustment needed to be added or deducted from the comparable
properties.
Tenure:
The tenure of subject property is leasehold type shoplot. All three comparable
properties are leasehold type shoplot too. Since the tenures of properties are same,
there are no percentage adjustment among the comparable properties.
Physical Condition:
The subject property is in good condition, same as comparable property 1 and
comparable property 3 so these two comparable properties do not need any percentage
adjustment to be conducted. However, comparable property 2 is in average condition.
Therefore, a 5% of percentage adjustment need to be added to reach same condition
with subject property.
Renovation:
The subject property is completed with ceramic tiles and ceiling but all the
comparable properties are unrenovated. Hence, each of the comparable properties
need to add 5% of percentage adjustment on renovation to achieve same condition
with the subject property.
Total adjustment:
The total adjustment for comparable property 1 is +5% whereas the total adjustment
for comparable property 2 is +15%. Besides, comparable property 3 has a total
adjustment of +15%.