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
Tuesday, December 23, 2008
Why MAS should handle complaints
Letter in Straits Times Forum
I REFER to the article last Thursday, 'Lehman-linked investors to get news in Jan', which reported that almost 5,000 formal complaints had been filed and that the Monetary Authority of Singapore (MAS) was satisfied that all 10 institutions involved were reviewing complaints based on principles of fairness.
I appeal to MAS to consider taking over the handling of complaints. There are already a large number of formal complaints as the report stated. Furthermore, the final number may be higher because non-Lehman-linked complaints were not part of the 5,000 stated and many other complaints may be expected. Hence, MAS may want to take a more cautious approach when a large number of ordinary citizens are affected.
Secondly, the complaint handling process should be undertaken not only to determine fairness but also the integrity of the financial institution.
Thirdly, the process should be handled directly by an independent party. Having such a party to oversee the complaint-handling process may not be sufficient.
It should be handled by an independent party from the start. This may involve a significant investment in resources by MAS.
It is also true that MAS is not in a position to guarantee the profitability of financial products.
But, it is MAS which Singaporeans trust most to uphold the integrity of a financial institution.
Leong Kok Ho
I REFER to the article last Thursday, 'Lehman-linked investors to get news in Jan', which reported that almost 5,000 formal complaints had been filed and that the Monetary Authority of Singapore (MAS) was satisfied that all 10 institutions involved were reviewing complaints based on principles of fairness.
I appeal to MAS to consider taking over the handling of complaints. There are already a large number of formal complaints as the report stated. Furthermore, the final number may be higher because non-Lehman-linked complaints were not part of the 5,000 stated and many other complaints may be expected. Hence, MAS may want to take a more cautious approach when a large number of ordinary citizens are affected.
Secondly, the complaint handling process should be undertaken not only to determine fairness but also the integrity of the financial institution.
Thirdly, the process should be handled directly by an independent party. Having such a party to oversee the complaint-handling process may not be sufficient.
It should be handled by an independent party from the start. This may involve a significant investment in resources by MAS.
It is also true that MAS is not in a position to guarantee the profitability of financial products.
But, it is MAS which Singaporeans trust most to uphold the integrity of a financial institution.
Leong Kok Ho
Subscribe to:
Posts (Atom)