Wednesday, December 24, 2008

Strong interest in the Property Indicators (AMP, AQI)

17 people responded to the survey on the new property portal.

100% said that they are interested in the AMP (adjusted market price) which is calculated based on the latest 10 transactions for the project, adjusted to reflect the the current market price (i.e. taking into account the change in market since the date of transaction). 94% said that this is a useful indication of the market price for the property.

81% are interested in the AQI (amenities quality index) that shows the amenities within 0.5 km (i.e. walking distance) of the property.

100% said that a comparision of the AQI and AMP for similar properties in the same location is useful. 81% said that they are willing to pay $20 for a property report that shows, among others, the details of the recent transactions and the nearby amenities.

I wish to explain that the AMP is an average for the property. It needs to be adjusted to reflect the height, facing and size of a particular property. I hope that buyers and sellers will find this indicator to be useful, with the limitations as disclosed. As this is just an indicator, it should not replace the judgement of a professional valuer in deciding on the value of the property.

http://www.surveymonkey.com/s.aspx?sm=_2blkqCtac6iiy_2bzlKaDEfYw_3d_3d
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2 comments:

Anonymous said...

I can't help but notice that the sample population of 17 for the survey is very very small. I think it is not enough to conclude there is strong interest in the related indicators or draw any meaningful conclusion from the survey as the results are likely to be skewed by people who are interested in the topic.

Allowing the survey to run for a longer time while encouraging more people to take the survey will likely improve the validity of the conclusion.

December 24, 2008 10:50 PM
Tan Kin Lian said...

Hi ck
This survey is meant for people who are interested in the new property portal. It is not meant for those who are not interested. Usually a sample size of 25 people is suffixcient to give quite reliable results.

I have carried out many surveys. I find that the results from 25 people do not differ much from the results from 100 people.

December 25, 2008 2:22 AM

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