Subject: Mishref, Land Area:500 square meters, Corner Layout, Built 2011. Land Value 787KD per sqm.

3 floors. Each floor built up area is 380 square meters. Depreciation is 25 years. Has 6 apartments each apartment is rented for 680 KD/month. Multiplier of Mishref is 12.7x. Cost of construction is 140 KD/sqm. Deluxe finishing.

Comparable: Mishref, 1 street layout (difference with corner is 80,000KWD) super deluxe finishing (difference with deluxe is 45,000 KD). Recently sold for 740,000 KD

a) Estimate the value of the subject using the three approaches discussed in previous lectures.

b) Using a weight of 45% for the comparable and 20% for the cost approach, calculate a final value of the subject.