some are "half share" sale. the mean of the past 3-4 months should be market value, with outlier high/ low transactions.. if it deviate too much lower it could be distress sale or tragedy sale (ie death, etc) but if it's half price, likely it could be sale of partial ownership or between relations/kin. if one is really serious, the data on brickz.my is only a rough indication, one still need to get the actual data from JPPH because that provide more information. after that, those data can be researched to see the reasons for the deviations. if one has already zoom in on a particular project or location, a lot of groundwork is required.


This post has been edited by corleone74: Feb 23 2016, 08:35 AM

so far i cross checked against data from JPPH and brickz.my data is accurate - my research mainly on selected MK condos.. (of course i 'm not saying i comprehensively checked all the projects in KL ). yes i suppose there could be manual data error that's why getting the data direct from JPPH is important if one is already quite serious about buying in to the respective project. for landed project you need to enter the street names. some are very obvious errors - for example if two projects have the same name. actually this case may not be an data entry error per se - just that the code to select the data and populate the webpage from the database need to be finetuned.

This post has been edited by corleone74: Feb 23 2016, 08:46 AM

market value is what the market prices an asset at any given time. it may or may not reflect true asset value, as it's driven by sentiment. i believe khaiyin @ goodplace has written a tehcnical article some time back on how to calculate a property's "true" asset value using land valuation and depreciation model.

usually will compare brickz data my theedgeproperty data just to double confirm.

Can you pls advise if there is a way to pull the actual JPPH data online? Any URL link? Thanks a lot.

i'd say brickz is a good benchmark. but for final valuation, we still need to leave it to valuers. there are different rules and is subjective

not that i know of, jagalat! i had to fill up a form and then wait a few weeks then go and pay and pick the data up.
the last time i did it was last year.


This post has been edited by corleone74: Feb 23 2016, 01:26 PM

if i would to buy a property, i would definitely used brickz.my to get the latest value instead of iproperty asking price which are mostly inflated by agents.

most owners know jackshit about their actual current value and leave it to the agent as long as can sell higher but no takers

Using this transacted may only give you the transacted price, but you may not know the transacted property is basic / half renovated, fully renovated, or the location or floor is not the nicer compare to the seller which is selling the property that are renovated nicely or in a better location or higher floor.. So, it does not fully right that you rely 100% on it when come to purchase a property.

For buying and selling purposes, it appears to me that valuation is more important than transacted price. Reason is loan is pretty much tied to valuation. Most buyers will have to get loans, selling price too much higher than valuation will have trouble to get transacted.

So is there a free way for seller to get valuation for price tagging purposes ?

From there you can gauge roughly a basic unit price. Renovated unit is dependent on the buyers taste, if he/she is willing to pay for the asking amount of renovation together with the basic price + other misc.

It's up to individual preferences on renovation, but with brickz.my u can accurately get the last average transacted price of a basic unit especially on high rise.

The more units transacted, the more accurate the information is, imo

Hire a valuer which recognize by bank. This is to know if your property will be able to value that much, when you refinance or buying property, you will need to get their service as well.

My friend actually develop this website and I am one of the friends that do give him some comment before even develop.

Its all bought from government and its facts
Whatever you get from brickz.my is actual details

He did mention to me before that the data is very messy as example:
February data bought but it contain maybe few years back transaction. The reason for this is staff key in the past transaction in February

You know the efficiency la haha

Anyway this is the most realistic and closest data you can get in the market as reference.

Transacted value you see may not mean you will get the valuation. Please take note

Hope it helps you all.

Banks knows d best.. problem with valuers is .. they are like some employee..

Lets say a property in north kiara say condo unit A valued for 600k... for d purposes of loan borrowing...

same valuer.. same exact prop.. same unit A .. will be valued mb 500k or 450k or lower for d purpose of auction should d same borrower default loans on the next 6 months upon approval of the loan mentioned earlier.. notice d disctepency would be 10 to 20% from loan valued 6 monthd earlier

valuers should be consistant in their values.. new developments get valued they desired there is not true maa.. suddenly launch in semenyih developers command 500psq... this figure is derived mostly from their expected profits for the whole projects..say land cost 100M.. cost of building 50M.. advertisement.. agents and etv 10M..

so 160M.. then shareholder wants profit at least 50% so total 320M.. the price of d property is adjusted to fit 320M..then come d market price.. 500psq for exp..

subsequently the so called savy investors bought from developers via 500k and freebies lar.. package lar.. etc.. reputation lar.. gardens lar.. then flip another 200k on top.. at least.. yet claimimg another series of market value at 700k to 750k in just 2 years later upon vp..

so actually.. from start the same land mb cost rm 20psq has been speculated or marketed at 500psq by developers and further at 600psq by investors..

1 product cost 200k inclusive of land pricing has been changed hands 2 rounds to become 700k... it is still a 200k product...

does not matter

Something requires extra scrutiny. The system should differentiate data entry date from transaction date.

This way the data entry date will not skew the data.

But you seem to tell us the system treats the transaction date as the data entered date, and yet is aware that the actual transaction date could be a few years back. Some very contradictory here.

I have been using brickz.my since it came out and I have a subscription account, so I get more historical data and the actual unit/house numbers as well. It is very useful for research and to share with clients to give them a realistic expectation on the potential buying/selling price they have in mind.

To answer your questions, "www.brickz.my reflects Actual property value? or loan amount only?", the answer is No and No to both questions.

Brickz.my does not show the property value and it does not show the loan amount.

The only thing brickz.my shows is the past transacted data, and the source of this data is JPPH.

Transacted Data is just the SPA prices/dates/sizes/etc that have been registered with the Land Office after each subsale. This Data can be used by Valuers to come up with the "Fair Market Value" of another similar property.

And as a property buyer/seller, this data can serve as a useful GUIDE as to how much a property can be bought or sold. But end of the day, its just a GUIDE, not an absolute figure

So far my transaction updated correct date and snp price, no nody not the actual price except buyer and seller.

Maybe the rm14/psqf is empty land and the rm300++psqf have some buildings / plantation on it

Oh maybe I explain it wrong. What u see in the system is the exact transaction date. But what I mean is the data they bought have different period of transaction thought report they bought is that particular month. And the staff have done a lot of work on adjusting the name (example as we might have condo, condominium, service apartment, apartment etc but it's actually same building) etc
Many workload they have to put in to maximize the efficient if the system. I m not selling my friends system
Just this is what I see and its the best system u can get so far in the market

Bravo! Great explanation