Valuation Problems in Developing Countries: A New Perspective | Land Portal

Resource information

Date of publication: 
January 2021
Resource Language: 
ISBN / Resource ID: 
LP-midp002982
Copyright details: 
© 2021 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article

Valuation problems, such as valuation inaccuracies/variations, client influence, and the use of heuristics, are common problems in property valuation practice globally. These problems have generated debate in recent times under the rubric of “behavioural issues in valuation”. This paper examines valuation problems in developing countries, as well as the current efforts that are undertaken to address these problems, with a view of determining the best approach to explain and/or address them. This stems from the persistence of valuation problems despite efforts undertaken to improve the practice of valuation. The study involves a survey of registered and practising valuers in Kenya. Respondents were asked to indicate valuation problems in practice, adopted strategies, and recommendations to address the said problems. It emerged from the study that valuation problems not only result from valuer misconduct but also market-related problems/the valuation environment in developing countries. The study further found that efforts to address these problems are mainly focused on improving valuer conduct while neglecting market-related problems (problems related to the nature of the valuation environment in developing countries). Based on these findings, the study concludes that valuation problems in practice are better understood in the context of both categories, i.e., valuer conduct and market-related problems, and recommends a holistic approach to address these problems by categorising them appropriately.

Authors and Publishers

Author(s), editor(s), contributor(s): 

Cheloti, IreneMooya, Manya

Corporate Author(s): 
Publisher(s): 

MDPI AG, a publisher of open-access scientific journals, was spun off from the Molecular Diversity Preservation International organization. It was formally registered by Shu-Kun Lin and Dietrich Rordorf in May 2010 in Basel, Switzerland, and maintains editorial offices in China, Spain and Serbia. MDPI relies primarily on article processing charges to cover the costs of editorial quality control and production of articles. Over 280 universities and institutes have joined the MDPI Institutional Open Access Program; authors from these organizations pay reduced article processing charges.

Data provider

MDPI AG, a publisher of open-access scientific journals, was spun off from the Molecular Diversity Preservation International organization. It was formally registered by Shu-Kun Lin and Dietrich Rordorf in May 2010 in Basel, Switzerland, and maintains editorial offices in China, Spain and Serbia. MDPI relies primarily on article processing charges to cover the costs of editorial quality control and production of articles. Over 280 universities and institutes have joined the MDPI Institutional Open Access Program; authors from these organizations pay reduced article processing charges.