Re-evaluation of Over 100 Condominiums Under way
More than 100 completed Condominiums projects in Bangkok have been re-evaluated by the Central valuation Department and their values may increase or drop based on the quality of construction and asset management efficiency.
buyers should not worry, said Central Valuation Department director Wanchai Tunskul.
He said the reassessment will push condominium prices up dramatically.
Calculating selling and resale prices of condominium will rely on many factors including location, design, function, facilities and quality of construction.
for old projects, values will be based on maintenance of common assets managed by legal juristic entities.
"Over 100 revised projects will not be hurt by the condominium reassessment because all units have been already sold out. They are the first lot of condominium built in inner Bangkok where present prices are not changing from that in the past,"
Mr. wanchai said.
The department will continue to re-evaluate condominium prices in other locations of Bangkok and other major cities.
Normally, the evaluated prices of condominium will be revised every four years. Some projects in fast-growing condominium and nearby areas are changing rapidly and can be updated as a special case.
The evaluation will be done after condominium are completed and official registration is sought with the land Department.
Re-evaluation of Over 100 Condominiums Under way
More than 100 completed Condominiums projects in Bangkok have been re-evaluated by the Central valuation Department and their values may increase or drop based on the quality of construction and asset management efficiency.
buyers should not worry, said Central Valuation Department director Wanchai Tunskul.
He said the reassessment will push condominium prices up dramatically.
Calculating selling and resale prices of condominium will rely on many factors including location, design, function, facilities and quality of construction.
for old projects, values will be based on maintenance of common assets managed by legal juristic entities.
"Over 100 revised projects will not be hurt by the condominium reassessment because all units have been already sold out. They are the first lot of condominium built in inner Bangkok where present prices are not changing from that in the past,"
Mr. wanchai said.
The department will continue to re-evaluate condominium prices in other locations of Bangkok and other major cities.
Normally, the evaluated prices of condominium will be revised every four years. Some projects in fast-growing condominium and nearby areas are changing rapidly and can be updated as a special case.
The evaluation will be done after condominium are completed and official registration is sought with the land Department.
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