Well, I personally think that repainting will likely to have a positive effect on the condo's price. Very simple - first impression counts for a lot of property buyer, be it investor or for own stay. If the building is completed repainted, it will surely make a hell lots of difference, at least psychologically.

The only question is how much positive effect on the price. To say there will be no impact at all, I think it's a bit unlikely. I have personally seen at least one condo where price appreciate by about 25% after repainting, over few months time.

As with repainting a car, I can't understand why repainting a car will not make any difference in price. Surely it will command at least 1-2K better price? If you are a car buyer and you have two same car, model, year in front of you, only difference is one is original paint 5 years old, the other brand new paint. Which one would you choose? The demand for the brand new paint car will be higher, hence naturally its price will be higher - simple economics.