Property Valuation – What exactly is it?


Most people think that property valuation is simply the value of your property without really understanding what it entails. While that is certainly true, there is actually much more to what goes into a property valuation.

Property valuation is not just an indicative value of how much a property is worth. Rather, it is vital to negotiation processes. The valuation can be done through professionals like us, taking into account every little detail to best determine how much you should pay for a property, if you are a buyer, and how much you should sell your property, if you are a seller. Because no one wants to pay too much of a premium for an apartment or let off his or her apartment at a low price, the role of property valuation becomes even more important.

Factors that are considered when deriving the property of your value include the location of your apartment in the context of Singapore, your neighbourhood, and even you own block, the size of your property as well as the state of your unit.

The thing about property valuations is that one may not necessarily be enough. Just like how one may get a second opinion on medical-related issues, one should also get more than one property valuation report in order to get a more accurate indication. In particular, one should go beyond bank valuations. Not sure where to get a property valuation? Contact Us.