Abstract:
Property asset appraisal is essential for the national economy in the areas of investing development value, accounting processes, and financial institutes. Therefore, appraisers should be both knowledgable and observant, paying attention to the data that affects to the appraisal. This is especially important in the appraisal of residential condominiums which right now have high continuous growth in central Bangkok in order to serve the new generation of working people who are looking for convenience in commuting. Thus, price appraisal must involve prioritizing the data for factors or variables that affect the condominiums trading in the city center. The purpose of this research is to study the variables that affect categorization of condominiums as high, medium or low quality by using Discriminant Analysis statistic to make the decision. There were two methods of analysis: 1. Variables were determined in a group of residential condominiums. 2. Predicting or forecasting which quality category the new residential condominium will fit into. The data used for analysis was gathered from a tally of condominiums' price appraisal reports from the asset appraisal bureau. These consisted of 185 residential condominiums in the Bangkok Metropolitan area that had registration rights records and juristic acts of selling in 2004. The sample groups were divided into high, medium and low quality (62, 63 and 60 condominiums respectively) by using 19 independent variables. There were only 8 variables, from the analysis results that affected all three groups : Distance from the subway, distance from the express way, parking lot availability, community monthly expenses, percentage of collecting ability of the community expenses, swimming pool, room section divisions in the unit, and use of an enter-exit key card system for property security. Based on these criteria, the analysis can correctly categorize a condominium's quality with 79.5% accuracy. In conclusion, we can predict the quality of new residential condominiums by using an equation obtained from the analysis. This result from a comparison of the median score point of each group to the score of a new condominium. Then it is possible to assign which category, high, median or low, the condominium will fall into. This kind of appraisal is useful for condominiums and provides a standardized categorization.