Valuing A Property - A layman's approach

quote: "Success is a thought process"

Recently Straits Times pointed out that many condominiums do not have enough car parks. I would have to agree that CAR PARKS space as one of the Valuing criteria.

CAR PARKS ADEQUACY
Car parks are important as many people who stay in Condominiums may own multiple cars. During festive seasons when their family and friends visit, having no car parks is quite inconvenient. One friend said, "After I have moved into this condo, I have no more friends and my family cannot visit me, unless they take the taxi."

However I strongly believe that buyers do NOT sufficiently value this aspect when buying a property or left it too late. Only when the problem surfaced when they cannot even find parking lots when they started to realize this problem. Once the problem is publicized and known, it can and will impact the property value. It is not immediately.

Your thoughts?