MARKET COMPARISON APPROACH : COMPUTER-ASSISTED TECHNIQUES

Abstract

Computer technology has progressed at a tremendous pace over the past twenty years. During the past decade alone, computer equipment has become ten times smaller, a hundred times faster and a thousand times less expensive to operate. The computer was once limited to the use of large establishments. It is now becoming available to small businesses like the real estate firm. It is the availability of computers at this age that has enabled its use to penetrate the different sectors of the real estate industry. Valuers, from all parts of the world, have begun to look into the possibility of employing the assistance of computers in valuation since their use became popular in the 1960s. Valuers in Singapore have not ventured to investigate the extent of computer assistance as much as their Western counterparts have. A look into the new discoveries of Western countries on the use of computer-assisted techniques in valuation may generate some interest in the local valuation profession. It is with this hope in mind that the author sets out to discuss some of these new techniques that were introduced recently.