Group exercise report real estate valuation

139, Phuoc Ly urban area, Hoa Minh ward, Lien Chieu district, Da Nang city ¢ Price appraisal time: 3/11/2024 ¢ Purpose of price appraisal: Advise on the value of assets for individual cu

UNIVERSITY OF ECONOMICS UNIVERSITY OF DA NANG

University of Economics

GROUP EXERCISE REPORT REAL ESTATE VALUATION

Lecturer: Hé Thi Hai Ly

Subject: Asset valuation

Class: 48K07.1

Group: 5

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PART A: PRICE APPRAISAL REPORT

I

CN DA NANG Independence - Freedom - Happiness

Number: 1/BC-DG/DN Da Nang, March 11, 2024

REPORT ON PRICE APPRAISAL RESULTS LAND USE RIGHTS AND CONSTRUCTION WORKS ASSOCIATED WITH LAND PLOT

NO B2-29-12, MAP NO 139, NO 85 PHUOC LY 14, HOA MINH WARD, LIEN CHIEU

DISTRICT, DA NANG CITY

Information about price appraisal enterprises:

¢ Company name: Dong Nam Valuation and Consulting Joint Stock Company

¢ Business address: 10 - Hai Phong, Thach Thang Ward, Hai Chau District, Da Nang City, Vietnam

¢ Phone Number: 02422102620

© Fax: 0304770466-014

Basic information about the appraisal:

¢ Customer name: Nguyen Dang Tam

® Price appraisal contract number: 11/2023/CT-DG/DN dated 04/11/2024

® Name of appraisal property: Land use rights and works attached to land, land plot No

B2-29-12, map sheet No 139, Phuoc Ly urban area, Hoa Minh ward, Lien Chieu district,

Da Nang city

¢ Price appraisal time: 3/11/2024

¢ Purpose of price appraisal: Advise on the value of assets for individual customers to use

as a basis for considering and deciding to mortgage assets at Vietcombank Da Nang branch in accordance with current laws

¢ Information sources used in the price appraisal process: Certificate of land use rights, ownership of houses and other land-attached assets

¢ Legal basis for price appraisal (Appendix 1)

1II Market overview:

Overview of information about the market:

Da Nang city is currently ranked 4th in the country in terms of urbanization, socio- economic development This has attracted a large amount of domestic and foreign investment to the region The outstanding development lies not only in the natural favorable factor but also in the reasonable construction and development investment policy of the city government

The reason why Da Nang's real estate market always attracts investors is because the city owns many strengths in infrastructure and urban transportation Although the level of urbanization is fast, landscape renovation and maintenance of green living space are always focused on by authorities at all levels Thereby creating a city that is considered

by many people to be "the most livable in Vietnam"

To focus on developing high-quality service industries, especially tourism, trade, logistics services, finance — banking, education — training, health and health care with high quality, competitiveness and high connectivity with international service centers in the ASEAN region and the world

Analysis of alternative, competitive assets:

> COMPARABLE REAL ESTATE 1:

Address: B4-3-5, Phuoc Ly 16 Street, Phuoc Ly Urban Area, Hoa Minh Ward, Lien

Chieu District, Da Nang City

Direction: Northwest

Area: 300 m2

Price: 8.9 billion VND

Landscape: Beautiful, busy population, near the university

Legal: There is a red book

> COMPARABLE REAL ESTATE 2:

Address: Phuoc Ly 14, Phuoc Ly urban area, Hoa Minh Ward, Lien Chieu District, Da

Nang City

Direction: Northwest

Area: 90 m2

Price: 2.68 billion VND

Legal: There is a pink book

Landscape: Beautiful, busy population, near the university

IV

> COMPARABLE REAL ESTATE 3:

Address: Phuoc Ly 14 Street, Phuoc Ly Urban Area, Hoa Minh Ward, Lien Chieu

District, Da Nang City

Direction: Southeast

Area: 90 m2

Price:2.95 billion

Legal: There is a pink book

Landscape: Beautiful, busy population, near the university

Information about appraisal assets:

Based on the results of actual investigation, information collection as well as information

analysis, we would like to present basic information about appraisal assets as follows:

1 Legal features:

Real estate to be appraised: Land with a house

Owned by him: Nguyen Dang Tam

Address: 85 Phuoc Ly 14 Street, Hoa Minh Ward, Lien Chieu District, Da Nang City

Land plot No.: B2-29-12, map sheet No.: 139

Economic-technical characteristics:

Area: 90 m2 (in words: ninety square meters)

Wide road frontage: 5 m

Direction: Northwest

Form of Use: Private Use

Purpose of use: Residential land in urban areas

Shelf Life: Long Term

V Basis for value of appraisal assets:

The basis for appraisal of the above property is the ordinary value

VI

"The market value of an asset is the estimated price that will be bought and sold on the market at the time of valuation, between a buyer willing to buy on the one hand and a seller on the other, in an independent objective sale, under normal commercial conditions."

Special Hypotheses and Hypotheses:

We value the above property on the assumption that the above land has no dispute or lawsuit information At the time of price appraisal, the appraisal team did not detect information on the planning to be relocated or other relevant planning

Records of valuation assets are reliable and complete

VU Approach and method of price appraisal:

Based on the selection of approaches and appraisal methods:

Our company uses 2 approaches in this appraisal report There are 2 methods of price appraisal: appraisal by comparison method and appraisal by cost method In which, the comparison method

is used to appraise the price of the land for the real estate to be valued, and the cost method is used to appraise the construction works on that land

Price appraisal by comparative method is a method of price appraisal, determining the value of price appraisal assets based on the analysis of prices of comparable assets to estimate and determine the value of price appraisal assets The comparison method belongs to the market- based approach according to Circular 126.2015TT-BTC promulgating Vietnam Valuation Standards No 08, 09 and 10 (Symbol: TGVN 08)

The comparative factors are the main economic and technical parameters, legal status,

transaction price, time, trading conditions (market conditions, selling conditions, financial terms, etc.) and other relevant factors (economic and technical characteristics of the asset, the status of

use of assets, other assets sold together ) have a great impact on the value of assets

The standard unit of comparison is the unit of basic calculation of an asset that can be converted according to that unit to the standard for comparison between assets of the same type For

example, meters, m2, m3, hectares, rooms, beds, seats, rental units, productivity, output/hectare,

product/shift, capacity, kg, weight, tons

The indicative price is the price of a comparable asset after it has been adjusted according to the difference in comparative factors with the appraised asset The indicative prices are the final basis for estimating the price of the appraisal property

The basis when the company uses the comparison method is based on the information available

on real estate exchanges The comparison method is often applied to the appraisal of appraisal assets that are commonly traded in the market This case is real estate transactions, mortgage

valuation, valuation for real estate taxation, valuation for the purchase and transfer of ownership

(or use) of land The valuation of properties under this method is only carried out when there is evidence of sale, sale and lease that can be used The company has information about 3 comparative land plots used to value the land in the report

Valuation by the cost method (cost-based approach) is a method of determining the value of an appraisal asset through the cost of creating an asset with functions and uses identical to or similar

to the appraisal property and the wear and tear of the appraisal property According to the

Vietnam Valuation Standard No 09 (Symbol: TGVN 09) in the approach from cost includes two

main methods:

The renewables cost method is a price appraisal method that determines the value of the appraised property on the basis of the difference between the cost of regenerating the property identical to the appraised property at the current market price and the depreciation value of the appraised property The regenerative cost method is a cost-based approach

The alternative cost method is a price appraisal method that determines the value of the appraised property on the basis of the difference between the replacement cost to create an asset similar to the appraised property with the same function and utility according to the current market price and the wear and tear value of the appraised property The alternative cost method

is a cost-based approach

Next is the basis for using the cost method to calculate the price of houses on land The basis for applying the method exclusively for the house because this is an asset without grounds and evidence for comparison on the market due to use for a separate purpose There is not enough information in the market to apply a market approach and an income approach The cost method

is the last method when other methods cannot be used

The company has determined that the cost method is the main appraisal method of the price appraisal report The reason this method is the basis of the report is that real estate needs to be valued including land and houses on land In particular, the real estate used in the comparison method are all blank land samples, so it is impossible to determine the entire value of the real estate Determining the price of houses on land will sum up the entire value of the real estate The comparison method used in determining the value of a land plot when there is no property has a relatively accurate ratio due to the available market estimates, it is also easier to adjust the parameters related to the land when capturing information of properties of similar levels Moreover, a piece of land is difficult to value by the cost method, and for the income method, the real estate that the company is appraising is a house on land, so using the comparison method for appraisal is the most optimal choice

Determine the value of a piece of land by comparison method:

After determining the basic information needed for comparison, the company conducts real estate valuation as follows:

Determine the unit price of each vacant plot of land to compare through collecting information

on the real estate transaction market Divide that price by the area of each one, we get the unit price of each piece of land

Determine the price ratio of land plots based on actual evidence that has been cited from specific sources Adjust the ratio of vacant land plots to be compared according to the land plot to be

f la BDS CDG - BDS SS

valued by the formula: ——hpQsqsS 7

Calculate the total adjustment rate of the comparative properties, then calculate the final unit price result of each property after adjusting to suit the price of the main land

And finally, the calculation of the unit price of the last piece of land is the average plus the unit price of 3 vacant plots of land compared Then multiply it by the total area of the land, the company has estimated the value of the vacant land alone, not counting the houses on the land Details of information as well as figures and calculation results will be presented in the spreadsheet below

The company has used based on information available in the real estate transaction market The basis for determining the price ratio of each vacant land plot is cited based on the following

Legal Have Right | Have Right of Have Right of Have Right of

of using using Certification | using Certification | using Certification Certification

Landscape Beautiful, Beautiful, busy Beautiful, busy Beautiful, busy

busy population, near | population, near | population, near population, | the university the university the university near the

Adjust the price ratio in the direction of:

The company uses 2 plots of land located in the Lakeside Palace project as a basis for adjusting to the direction of the house Because they are located in the same commercial townhouse project, there are very few differences between the land plots and almost have the

same value In which, 1 lot is located in the northwest direction, No 5 street, with an area of

120m2 is priced at 3.2 billion VND and the other land lot is located in the southeast direction, Nguyen Thanh Long street, with an area of 120m2 is priced at 3.4 billion Then take the Northwest rate as the root of 100% and the price adjustment rate of the Southeast

direction is:

Southeast 3.4

Northwest 3.2 106.25%

S.2ty - 120 m* > chién Íz: Chị

Dự án Lakeside Palace, Đường Số 5, Phường Hòa Hiệp Nam, Liên Chiểu, Đà

Thông †in mô ta Đặc điểm bất động sản Lịch sử giá Khúc

=Dol dien trung tam thuong mai Lakeside

- Gần đường 15m Lakeside Infinity thong qua Dragon Smart City, Liên Chiểu, Đà Nẵng, thông ra Nguyễn Tất Thành nối dai qua Golden Hill

- Đà Nẵng hiện nay đầu tư chỉ có Liên Chiểu là sự đầu tư thông minh nhất, vì đi sau hiện nay giá còn rẻ hơn Xuân, các khu vực Đà Nẵng, đi sau thông minh và thông thoáng hơn

- Đất đã có sổ đỏ, pháp lý ổn định, không lo tối về ngủ ngon, kê cao gối ngủ

- Lakeside luôn là sự lựa chọn thông minh về vị trí và quy hoạch thông minh

- Hướng Tây Bắc, sạch đẹp, diện tích 120m2, ngang 6m, dài 20m

- Liên hệ Chiến Lakeside: 0965 192 *** | Hiện số | cung cấp thông tin

Đặc điểm bất động sản

I Diệntích 120 m? @) Mac gia 3,2 tỷ

\ Hướng nhà Tây - Bắc

7 2

3,4 tý - 120m @) Chién lỗ Chat qua

Thông †in mô tả | Mới |

Chiếu, thành phố Đà Nẵng

- Cách đường Mê Linh đi Bà Nà Hill chỉ 50m Khu sâm uất đông dân

- Cách biển Nguyễn Tất Thành chỉ 700m

- Gần Cảng Liên Chiểu chỉ 3km và gân khu Công nghệ cao đà nẵng chỉ 3,5km

- Diện tích: 120m? - Ngang 6m dài 20m/ 1 lô

- Số đỏ mua bán công chứng

Anh chị quan tâm hãy liên hệ:

Call/ Zalo: 0965 192 *** | Hign sé | Mr Chiến Lakeside hỗ trợ xem đất thực tế và gặp chính chủ thương lượng

Đặc điểm bất động sản

fr) Mat tién 6m /À Đường vào 75m

a “ > ^ - - ~ 4 ~L^

Determining the value of houses on land by the cost method:

With the cost method, the company will first estimate the market value of building a similar house at the present time Because houses on land that need to be valued are built for special private use, the valuation of renewable costs is only relative

The information in Appendix 3 is a photo of the house showing that the house on the land belongs to the grade III house class with a design of 3 floors, 3 bedrooms, 3 toilets From there, it can be concluded that this is a house belonging to the townhouse project

Ban siéu pham 3tang đường 7m5 đô thị phước lý 14 -Hoà Minh -Liên Chiểu -Đà Nẵng

Ngây đăng: Hôm nay Vừa hoàn thiện Siêu phầm nhà 3tằng đường 7m5 đô thị phước lý 14 -Hoà Minh -Liên Chiêu -Đà Nẵng

-dt 90m ( 5m-18m)

-Hướng tây Bắc

-3PN-3WC -Sân thượng trước sau

-Phòng Thờ ,sân đậu oto

-Nội Thất cao cấp

-bộ Sopa phòng khách-bộ bàn ăn 6ghế-3bộ Tủ ,Giường,chăn ga gối đệm,bản ghế trang điểm

-Tủ Lạnh 2cữa,Tivi 65in

-3may lạnh -Dàn nóng lạnh năng lượng mặt trời

-đóng tôn chống thắm -bảo hành 2năm

-Giá 4ti7 có bớt cho khách hàng may mắn

Liên hộ: Quang Trì xem nhà lvcc

Địa chỉ tài sản: Đường Phước Lý 14, Phường Hòa Minh, Quận Liên Chiêu, Đà Nẵng

Currently, the cost of building a package of a new townhouse in Da Nang is between 5,000,000

VND — 6,000,000 VND according to information available from the https://xaydungso.vn/tu- van/bao-gia-chi-phi-xay-nha-tron-go1-tai-da-nang html website, accessed on November 2, 2024

HOMEPAGE MẪU NHÀ ĐẸP MẪU BIỆT THỰ ĐẸP MẪU NHÀ CẤP 4ĐÐẸP MẪU NHÀ

1 Chi phí xây dựng nha trọn gói

Com

*Nhà Phố trọn gói:

« Thi công trọn gói nhà phố gói trung bình: 5.000.000 đồng/m2 — 5.200.000 đồng/m2

« Thi công trọn gói nhà phố gói khá: 5.200.000 đồng/m2 — 5.500.000 đồng/m2

« Thi công trọn gói nhà phố gói cao cấp: 5.500.000 đồng/m2 - 6.000.000 đồng/m2

The company will set an average price of 5,500,000 VND for 1 square meter of construction due

to the design of the house at a decent average level Because this is a newly built house, the information on the red book does not have a residential part, based on the visual images provided

by the customer, the company assumes that the construction density is 100%, so the floor area of

the Ist floor is 90 m2, the total floor area is 270 m2 So, the cost of creating a new house is

similar: 5,500,000 x 270 = 1,485,000,000 VND

Since the house is 100% new, unused, the wear rate is 0%

According to the calculation formula for the cost method, we have:

Estimated value of } =} Renewable costs (including |-| Total Wear Value (Cumulative

the asset manufacturer/investor profits) Wear Value)

Through the above interpretations and analyses by both comparative methods combined with

cost methods

The real estate to be valued is:

1,485,000,000 + 2,616,300,000 = 4,101,300,000 (VND)

VIII Validity period of price appraisal results:

The validity period of the price appraisal report is 120 days from the date of issuance of the price appraisal report

1X Exclusions and limitations:

The report is made based on information and documents provided by the relevant parties and is believed to be correct at the time of the due diligence The appraisal unit is not responsible for false information or omissions from customers or third parties

The property value is determined at the time of appraisal and has no reference value for any changes that occur after the valuation date

X Appendix attached:

1 Appendix 1:

SYSTEM OF RELEVANT LEGAL DOCUMENTS

1) Codes and Laws promulgated by the National Assembly:

Text Name Number and date of promulgation

No 177/2013/ND-CP, dated| Detailed regulations and guidelines for the

implementation of a number of articles of the price

implementation of the Housing Law

guidelines for the

Detailed regulations and guidelines for the

implementation of the Law on Real Estate

Business