So, do you still think the setting of the reserve price is is as easy as ABC? That all you have to do is take a low individual unit sale and plonk a 50% on to that and voila - the RP is born? Old men and those keen to sell-at-any-price are happy with this simple methodology, but here is a paper from the National University of Singapore which should make your toes curl.
This 2004 NUS/IRAS paper on Option Pricing Framework is still applicable even after the Residential Property Amendments of 2010 - IF the developer Buyers are fully Singaporean and therefore do not have to redevelop and sell the site within a strict 5 year timeframe.
I haven't finished looking at it yet - as it was given to me just today.
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