I have checked three current listings and one completed transaction, but the value gap between them is still unclear. The property is a 2-bed new-build flat in Hong Kong, around 165 m², offered at HK$11,230,000 after 19 days on the market.
The light and location work for me. Less convincing are the average overall condition, finishes that already look dated and uncertainty over any costs or restrictions affecting rental use. Nineteen days does not seem long enough to infer much about the seller’s flexibility, and I do not want to value extra floor area at a flat rate if the layout is inefficient.
How would you test the completed sale against this flat for usable area and condition? I suspect the precise micro-location and parking arrangement could matter more than a cosmetic refurbishment, since the latter can be changed. I also need to verify service charges, lease terms and outdoor space. I will still commission a local appraisal, but I would like a sensible valuation range for deciding whether to proceed.
The light and location work for me. Less convincing are the average overall condition, finishes that already look dated and uncertainty over any costs or restrictions affecting rental use. Nineteen days does not seem long enough to infer much about the seller’s flexibility, and I do not want to value extra floor area at a flat rate if the layout is inefficient.
How would you test the completed sale against this flat for usable area and condition? I suspect the precise micro-location and parking arrangement could matter more than a cosmetic refurbishment, since the latter can be changed. I also need to verify service charges, lease terms and outdoor space. I will still commission a local appraisal, but I would like a sensible valuation range for deciding whether to proceed.