PROPERTY VALUATION

物業估價

Why is it critical for you?

Having a valuation of a property can place you in a better position, while it can also be a double-edged sword in the following aspects:

Negotiation

Although both buyers and sellers do not have to stick with the valuation price, it can be a reference for how they make their offers according to the value of the property.

Mortgage

This can be fatal especially for amateurs in property investment, as they cannot borrow enough money from the bank if the valuation is far from the transacted price i.e. their deposit will be forfeited if they cannot pay for the difference.

Comparison

Valuation of other units with similar quality e.g. layout, floor level, view, and building age within the building or around the area can offer both buyers and sellers more evidence regarding the value of the targeted property.

Valuation Channel

Through e.g. HSBC by their online immediate valuation tool below:

However, no results will be shown for buildings with limited transactions. Instead, you will need to call their valuation hotline directly and the below information about the property will be requested from you: 1) type of property 2) full address 3) size 4) building age 5) landlord asking price 6) whether a car park is included or not. Your inquiry will then be passed to a chartered surveyor afterwards and you will be contacted usually less than a week for the result.

Is it that straightforward? Please refer to the common questions below:

Does the bank rely solely on the surveyor's valued price for the mortgage approval?

Do not give up buying a property just based on the "below-market" valuation. It can be "changed"!

The valuation of a recent transaction in the building of my targeted property is lower than my expectation. Does the surveyor know that my property is different i.e. has a sea-view!?

We are afraid they sometimes are not aware of it especially for buildings with limited transactions. There is a way to appeal to the bank if the valuation is below your expectation.

My tareted building is just next to the MTR Station, but the average valuation is 10-20% lower than the building far from MTR Station in the area just because of the building management and common area?

It sometimes happens, as it reflects the demand and preference of potential buyers and tenants. Join our Residents' Network and work with other landlords to upgrade your building for value enhancement in the long run.