NPA price versus market value: how to avoid a false discount
Understand why a bank discount and a discount to comparable market property are different.
PropertyAlpha research · 2 November 2026
Two different discounts
A reduction from an older seller list price describes a price change. A discount to market requires comparable evidence. Never substitute one for the other.
Choose comparable evidence
Prefer recent transactions where their provenance is verified, then current same-project offers with similar area, condition and rights. A newer luxury building elsewhere in the area is contextual evidence, not an equivalent unit.
Adjust for what you buy
Renovated and furnished property may cost more for a reason. Consider interior condition, floor, view, building condition, ownership rights and debts. Do not average away important differences.
Show a range
Use a conservative range, identify the evidence type and disclose missing data. Several websites may repeat the same listing, so count independent underlying observations rather than URLs alone.
References and next steps
These are research questions and modelling principles. No property availability, buyer eligibility or financial result is confirmed by this guide.