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www.brickz.my reflects Actual property value?, or loan amount only?
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corleone74
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 Feb 22 2016, 06:55 PM
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QUOTE(SeanST @ Feb 22 2016, 04:24 PM) Am checking my house's market value, but i coundn't find an actual value for my house because the prices shown differs from one another within the same area and type of housing. How about the factors of Bumi/Non-bumi lot, Malay Reserved/Non reserved, Free/Leasehold, Renovated/Basic, 90% or 50% loan approved etc? As these factors can greatly affect the house value. I am wondering how is the 'Market price' determined by this website? by Loan amount? or Actual value by bank? Take SS17 for example. it shows transacted price based on SPA and captured in JPPH database. |
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corleone74
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Feb 23 2016, 08:32 AM
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QUOTE(puchongite @ Feb 22 2016, 07:08 PM) TS saw some figures lower than he expected, so he wishfully thinks that the figures might be loan amount. Sometime I see prices lower or higher than expectation too. If the data is 100% accurate, it means there are fluctuations in transacted prices. 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 |
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corleone74
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Feb 23 2016, 08:42 AM
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QUOTE(puchongite @ Feb 22 2016, 05:35 PM) I tried to use brickz a bit, but sometimes I am kind of suspicious of the data there. Maybe they do contain certain % of errors, possibly due to manual data entry error.  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 |
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corleone74
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Feb 23 2016, 08:49 AM
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QUOTE(jonnie @ Feb 22 2016, 05:35 PM) brickz shows the transacted price. Not the bank valuation. you will need to approach the bank for their valuation. market value is very subjective. nobody can give u a definite answer for that. 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. |
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corleone74
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Feb 23 2016, 01:25 PM
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QUOTE(Jagalat @ Feb 23 2016, 11:02 AM) Can you pls advise if there is a way to pull the actual JPPH data online? Any URL link? Thanks a lot. 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 |
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