Good property valuation in emerging real estate markets? Evidence from Ghana

Hong Kong Institute of Surveyors
Publication Type:
Journal Article
Surveying and Built Environment, 2012, 22 (Nov), pp. 37 - 60
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Traditional valuation methods were designed with developed real estate markets in mind. Within that paradigm, the Cost Approach to property valuation is the method of last resort for surveyors, the exception rather than the rule. However, in countries such as Ghana where cultural practices, special relationships and administrative bottlenecks constitute structural impediments to the use of more 'progressive' valuation methods, surveyors rely on the Cost Approach (with some modifications) as the method of choice.
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