Bill Board Valuation
Advertisement signboard, billboard or cutout, are parts of the structure that classify as a special type of property/building that must be controlled by the Building Control Act, B.E. 2522. A construction permit must be requested as well as safety inspection must be made. Therefore, both Or.1 and Ror.1 certificates are required from the owners in order to prove their ownership. For billboard valuation, we will consider and determine the value of the assets by using 2 main valuation methods which are ‘Income Approach’ and ‘Cost Approach’. In this case, the income approach seems to have better weight in terms of determining the property value since most of the billboards are located in the rental areas which lead to having a timeframe to generate income from billboard rental. On the other hand, rental fees will also be competitive in the market depends on location and view that might have an impact on the spectators. Although the prices are varied, the unit of area in square meter (per month per year) can be compared. For the appraisal method using the cost approach, is able to calculate the building construction cost which can be used to review the summarized value.