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Client Influence on Valuation:Its Effect on Lagging of Commercial Property Investments

Authors
Publication Date
Keywords
  • Hd Industries. Land Use. Labor
  • Ta Engineering (General). Civil Engineering (General)
  • Th Building Construction
Disciplines
  • Mathematics

Abstract

Behaviourial issues have been attributed as one of the factors that result to the inability of property values to predict the market. Levy and Schuck (1998) having looked at the deductive, cognitive and holistic models to these behaviourial issues criticised the first two models for their failure in capturing the complexities in the valuation process within the commercial setting. This paper thereby studied clients’ influence, one of these behaviourial issues, with respect to its effect on lagging of commercial property investment in Lagos Metropolis, a situation believed to have captured the complexities in the valuation process within the commercial setting. The study involved the strategic random sampling of 95 practising Estate Surveying firms in the study area. By employing the use of frequency distribution and weighted arithmetic mean, a 46% increase was discovered in valuation lagging. The Nigerian Institution of Estate Surveyors nad Valuers are thereby called to strengthen her disciplinary committees in order to checkmate activities of her members particularly as it relates to clients’ influence in order to safeguard the credence of her noble profession

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