IMPACT OF PROPERTY EXPENDITURE ON PROPERTY TRANSACTION PRICES FOR CONDOMINIUMS IN SINGAPORE IN YEAR 2002

Abstract

Real estate is a depreciating asset; steps are usually taken to arrest the natural process of deterioration that takes place over its life span. Maintenance work carried out in the Condominiums prevent or retard the process of wearing out by promptly repair or replace worn components with comparable ones or improved ones. As a result, Maintenance work such as replacement, rectification or improvement work definitely contributed to the Total Expenditure. It is the premise of this study to prove that, the transacted price of the property dependent on the amount of maintenance work carried out in the Condominiums based on the amount of Expenditure. This study had proven that the amount of Expenditure being used to determine the amount of maintenance work carried out to upkeep the Condominiums had an effect on the Transacted Price for the Condominium Units.