Dealing with properties

Property transactions can best be defined in Prudent with the use of unit pricing. Let's go through this with an example.

When buying a property

Say you buy a 1100 square feet apartment. Typically, you will be aware of the per square foot price of the apartment as that is often a popular basis of price comparison. The transaction should be recorded as follows:

P 2016/10/3 16:17:00 MCS $1390

2016/10/3 
    Assets:Property:MiCasa  1100 SRF
    Assets:Savings:Bank:Rosetta

MCS can be any code that you come up with to denote a square foor of your property

Benefit

With the above, you can then update the price of the price by the unit price:

P 2018/06/15 10:05:00 MCS $1450

For Singapore, an update extension is available to obtain the latest unit price estimate based on the Private Residential Property Price Index on Data.gov.sg.

Periodic estimated price updates helps you get reports that reflect current perceived value of your property assets.

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