AA Appraisal & Consultancy successfully valued three island properties in Northern Samar. The appraisal inspection was done using drone technology and able to get different views of the islands and its beautiful beaches.
The 3 island properties which have a total area of 400 hectares, are ideal for high-end and tourism related development . The beaches and its location are accessible from different point of origin such as Manila and Cebu.
An appraisal is important in developing an opinion of value on how much a property is worth and plays a crucial part in setting the sales price of the property. Property owners and buyers rely on the third party appraisal to help them in the transaction.
While the appraisal of a regular properties in urban can be easily established by sales comparison, valuing private island is more complex and trickier. AA Appraisal did researches and considers different islands in the country and in international. “Experience in using different methodology such as income approach and development method plays a big part in appraisal”, Appraiser Gus explained.
“Establishing a realistic and reliable value of a property based on market data, previous appraisal reports and investment value of the property is crucial,” he continues.
He also emphasizes the importance of drone technology in appraising large properties like islands. “Drones will help appraisers in making inspections and documentation much easier”
Gus Agosto served as the Principal Appraiser of AA+ Appraisal & Consulting. He has been commissioned already to value beach properties, islands and other tourism related properties. He has served as consultant for Asian Development Bank, Cebu Provincial Government and big corporations such as Vivant Energy, Avida Condominium, Ayala FGU, Punta Engano Development Corporation, and others.