Apartment Valuation

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   For those who are seeking for apartment valuation in Thailand. First of all, please note that the apartment is considered as one of the mutual residential building, similar to condominium, according to Thailand’s law and regulation, in which the factors that should be considered in terms of basic laws and regulations are numbers of room, construction permission request, monthly and daily rent or a type of apartment that serves full service which also known as ‘Serviced Apartments’. At the same time, the factors that will be used to consider the market rental fee are the size of rooms, air-conditioned or non-air-conditioned, housekeeping services, and other facilities. Revenue is generated through services provided, hence appraiser usually adopt the income approach method, also use in business valuation. Usually, a special need of the user is to study the other forms of utilization which is also known as a transformation from ‘Existing Use’ to ‘Alternative Use’ for example in this case, an alternative use can be a Hotel Service Apartment and to be able to this, which type of operation license should you request for?

Last but not least, please refer to a list of documents that are needed in apartment valuation below:

  • Land document of right where the hotel is located
  • Construction permit
  • Building plan
  • Plan showing the location of the building
  • Apartment business license/permit

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