PRICING PRIVATE RESIDENTIAL APARTMENTS (WITH COMPUTERISED CMA)

Abstract

The Private residential apartments market in Singapore is getting very competitive as more and more developments are springing up all over the island. This combined with the upgrading of public housing has rendered the task of marketing private apartments a very difficult one. One aspect which will largely determine the marketability of the property is none other than its price. The acquisition of an apartment involves a huge sum of capital investment and therefore the price of the property will be one of the main factors of consideration for any potential purchaser. Following from this, a purchaser will ask for the lowest price possible, while the seller will demand the highest. Pricing these properties is therefore an uphill task and the present methods employed do not seem to be sufficiently efficient. In an era where the sophistication of computer reigns, pricing methods should also be computerised to obtain the efficiency which manual computation has failed to achieve and at the same time adding a touch of elegance to the presentation of the findings.