SUNBIZ

Valuers Welcome Act

The Institute of Valuation and Estate Management of Fiji has welcomed Government’s move to formulate a Valuation Act. Some valuers were allegedly found to be speculating property prices by colluding
24 Nov 2014 10:17
Valuers Welcome Act

The Institute of Valuation and Estate Management of Fiji has welcomed Government’s move to formulate a Valuation Act.
Some valuers were allegedly found to be speculating property prices by colluding with owners to hike prices.

In doing so, it was creating a dangerous precedent of allowing the housing market to bubble up.
Institute president Malvin Anand said: “If this practice continues, we are definitely looking at a repeat of the US market and whether our economy is large enough to absorb this appetite is a critical matter.”

Mr Anand said this on Friday during the institutes two-day conference at the Grand Pacific Hotel.

On another issue, the institute for the first time introduced gender was highlighted in its conference.
Mr Anand said: “I feel that as a responsible professional body, we have been very late at picking up this issue considering we are a male dominant industry.”

Capacity building
Capacity building was another critical area and the Institute discussed a compulsory Continuous Professional Development programme to raise the bar on professional practice which was introduced in 2011.
Feedback:  rachael.nath@fijisun.com.fj

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