 Valuation Order Form |
Agency for Real Estate Affairs
is Thailand’s independent professional property valuation
company and operates in strict accordance with the Standard
Guidance Notes issued by the Valuers Association of Thailand.
AREA’s list of accreditations is comprehensive
and it is one of the selected few property valuation providers
on all three approved short lists of The Bank of Thailand
(BOT), The Securities & Exchange Commission of Thailand (SEC)
and The Property Loan Management Organization (PLMO).
A valuation is a professional
opinion of the quality, value, or utility of a specific property.
Valuations may be required for just about any type of property,
including single-family homes, apartment buildings and condominiums,
office buildings, shopping centres, industrial sites, and
farms. The reasons for performing a property valuation are
just as varied. AREA performs valuations:
- for mortgage lending purposes
- for tax assessments and appeals of eminent domain
- during negotiations between buyers and sellers
- when the government acquires private property for public
use
- for pending business mergers or dissolutions
- for appraising the assets of publicly listed companies
- during company audits
- for property inheritance purposes
- when financial institutions evaluate non-performing loans
(NPLs)
- on behalf of authorized property funds
- to value the property assets of financial institutions
for the purpose of evaluating their capital-to-risk assets
ratio in accordance with the standards set by the Bank of
International Settlements (BIS).
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Property type and the purpose
of the valuation will determine the valuation approach to
be adopted for a specific property. AREA employs a range of
valuation approaches to meet the requirements of the modern
real estate market.
- cost approach
- market comparable approach
- income approach
- discounted cash flow analysis
- residual approach
- modelling for mass appraisal
- combinations of the above approaches
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Property Valuation Record |
| Year |
Total
Value (Baht) |
Total
Value (US$*) |
Property
Types |
1991 |
1.77
billion |
69
million |
office
buildings
department stores
commercial complexes
hotels
plazas
hospitals
factories
warehouses
resorts
golf courses
detached houses
townhouses
condominiums
apartments
shophouses
petrol service stations
vacant land
farm land |
1992 |
2.49
billion |
97
million |
1993 |
3.22
billion |
127
million |
1994 |
5.13
billion |
204
million |
1995 |
14.23
billion |
572
million |
1996 |
19.11
billion |
755
million |
1997 |
32.87
billion |
990
million |
1998 |
40.90
billion |
991
million |
1999 |
54.62
billion |
1,443
million |
2000 |
66.92
billion |
1,672
million |
2001 |
77.56
billion |
1,724
million |
| 2002 |
79.59
billion |
1,990
million |
| 2003 |
82.86
billion |
2,072
billion |
2004 |
108.0
billion
|
2,690
billion |
*using average exchange
rate for each year |
Property Valuation Report |
A professional valuation report
contains all the necessary detail of information on which
to base important financial decisions regarding a property.
Although there will be some variation in the information depending
on property type and valuation approach, the following details
the contents of a typical report for a valuation of buildings
with land, using the market comparable approach.
| Valuation
of Buildings with Land |
1. INtrODUCTION AND PURPOSE OF VALUATION
1.1 Instructor
1.2 Purpose of Valuation
1.3 Date of Inspection and Valuation
1.4 The Subject Property 2. LOCATION
2.1 Location
2.2 Access Route
2.3 Access Rights
2.4 Surroundings3. DOCUMENT OF RIGHTS
3.1 Strata Title Certificate
3.2 Government-assessed land value
3.3 Exact Location
3.4 Topography
3.5 Service and Facilities4. BUILDING SURVEY REPORT
4.1 Building and Improvement
4.2 Building Inspection
4.3 Building Details 5. REGULATIONS
5.1 Zoning
5.2 Building Regulations
5.3 Land Expropriation
5.4 Other Regulations 6. THE SITE ANALYSIS
6.1 Highest and Best Use
6.2 Special Comments 7. VALUATION
7.1 Basis of Valuation
7.2 Valuation Condition
7.3 Special Assumption
7.4 Valuation Approach
7.5 Valuation Summary |
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Appendix I VALUATION DETAILS
Appendix II VALUATION PRINCIPLES
Appendix III LIMITING CONDITIONS
Appendix IV LOCATION MAP
Appendix V SITE PLAN
Appendix VI PHOTOGRAPHS
Appendix VII DOCUMENT OF RIGHTS
Appendix VIII LAY-OUT PLAN
Number of copies : 2
Report languages : English
or Thai
Turnaround time : 5-15
working days
Market coverage : all
Thailand
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