Market value is the most sought-after detail taken into account by all the parties involved in a property transaction. Among the many bases used in the value measurement are investment value, fair value, forced-sale value and depreciated replacement cost. Market comparison, or sales comparison, is one of the standard methods used in assessing a property's market value. First, it is hard to find similar property transactions that can be reasonably compared (an apples-to-apples comparison), even though property transactions are completed somewhere every day. Second, similar property transactions may occur at different periods of time and thus may be no longer comparable because of changing market conditions or environment.

Source: Bangkok Post April 15, 2017 22:41 UTC