Property valuation is the process of determining the value of a property at a particular time.
As an Estate Manager with the understanding that valuation involves inspecting the property, considering its location, size, condition, title and other relevant factors.
The valuer also considers the current market situation and compares the property with similar properties in the area. Different methods can be used, such as the Comparison Method, Investment Method, Cost Method, and Residual Method, depending on the type and purpose of the valuation.
Property valuation is important for purposes such as sale, purchase, mortgage, insurance, investment, and taxation. It helps property owners, buyers and investors make informed decisions about their property.
