M.Sc. in Land and Real Property Valuation

M.Sc. in Real Property Valuation

Rationale of the Program

The economic, social and legal rationale that underlies the establishment of Master’s program

The economic, social and legal rationale that underlies the establishment of Master’s program in Valuation at Bahir Dar University is derived from the realization of the fact that introducing the program will solve many land and property related problems, which are barriers for sustainable development by having and using higher level trained man power in the area.

Valuation is the heart of all economic activity. The purpose for which the valuation is required and the type of property that is to be valued will determine the nature of the valuation instruction, including the techniques employed and the basis on which value is to be estimated. Purposes for which a valuation may be required include sale or purchase, rent to be paid or demanded, the amount of mortgage which could be advanced on a security, calculation of compensation payable or receivable, assessment of taxation or rating and the advisability of investment. This valuation program aims to benefit valuers, surveyors, real estate experts, developers and managers, financers, urban planners, researchers and decision makers. However, due to lack of trained manpower these benefits were not realized.

Despite the actual market value of real property varies greatly from site to site, depending mainly on its size, location and proximity to public services etc., in Ethiopia, however, the real property is not assessed and valued mainly based on these factors rather the property is valued arbitrarily under administrative decision. Most of the time valuers are not skill full and capable to determine the market value of property for different purposes.

Despite education and training institutions are expected to play an essential role in supplying qualified personals that can conduct valuation and ensure fairness in valuation, there are no higher institutions that train professionals having the skill and knowledge of property valuation for different purposes in Ethiopia. As a result of this, there is an acute shortage of professionals in the area of valuation.

Hence, this program is designed to enrich the students’ practical knowledge with skills and abilities specific to property valuation. It basically intends to provide students with a rigorous understanding of property markets and a range of practice based knowledge and skills within a flexible learning framework. It aims to ensure that the skill areas covered by the program are applicable to a range of occupational and professional needs within municipalities, rural administrations and to other similar needs in private sector as well as future career paths. The program has been developed to ensure that teaching modules reflect and develop current best practice and cater for the needs of employers. Students enjoy a challenging blend of academic subjects and practical knowledge and skills aimed at achieving professional competency and transferability. The program covers essential elements of Construction, Economics, Legal Studies and Valuation, and will provides the ability to relate the property industry to other built environment fields and the wider business context.

Despite education and training institutions are expected to play an essential role in supplying qualified personals that can conduct property valuation and ensure fairness in property valuation, there are no higher institutions that train professionals having the skill and knowledge of real property valuation for different purposes in Ethiopia. As a result of this, there is an acute shortage of professionals in the area of valuation. To overcome the problem the modernized property tax system project office and the integrated urban land information project office under the Ministry of Urban Development and Housing took the imitative to develop the curriculum on property valuation and consult different universities including our Institute for implementation.

The assessment made by the modernized property tax system project office and the integrated urban land information project office under the Ministry of Urban Development and Housing showed that there is an acute shortage of professionals in the area of property valuation.

Hence, the Institute of Land Administration in Bahir Dar University launching this program to train a manpower that can have the knowledge and skill in an area of property valuation.

Program Objectives

General Objective

The general objective of the program is to train human resource in the field of property Valuation at post graduate level who will thoroughly serve their community; and to strengthen the qualification and the man power capacity of land administration bureaus, Urban Development and Construction bureaus, City administration municipalities, counselling and advisory departments and other institutions engaged in land related activities, environmental management and protection, etc. that enable them to handle the current complex land problem in the country.

Specific Objectives of the Program

More specifically, the study program upon its implementation will ensure the required quality and quantity of skilled man power for the efficient and effective design and running of well- functioning property valuation system for its proper and development oriented utilization. The specific objectives of the program are: To train ethical valuers who are capable to apply their skills in understanding the problem of the society, and make a useful contribution to the solution;

*             To train ethical valuers who are capable to apply their skills in understanding the problem of the society, and make a useful contribution to the solution;

*             To contribute its own role in capacitating the private and public sectors in trained man-power in the field of real estate valuation;

*             To produce professionals in the field of valuation who are confident to apply their skills in understanding the problem of the society creatively and analytically based on economically, socially and environmentally sound facts, and make a useful contribution to the solution;

*             To put in place strategies to support real property valuation system needs of the country

*             To have a knowledge on planning, setting research project, analyzing results, and use them in their work and

*             To strengthen the ties between the university and governmental and nongovernmental organization in the area of Real Property Valuation.