The funding target of a New Listing, which forms the basis for the share price, consists of:
- The property’s purchase price (see the definition below)
- Plus all third party purchase costs and additional funds required for furnishings and repairs
- Less any mortgage (which is a term loan secured against the property)
The purchase price for a New Listing is the price paid to acquire the property, which in turn is supported by a Chartered Surveyor’s physical inspection and valuation.