What is a property valuation?
Property valuation is the process of estimating the market value of a property. Registered property assessors use several techniques to arrive at an estimate, including analysing local real estate market conditions, surveys and auction results.
Property valuer in Kenya A property valuation can be a complex and time-consuming process, so it’s important to find an experienced valuer who knows the local market. If you’re looking for a property valuation in Kenya, then we recommend contacting a professional valuer like those at Property Valuation Services Ltd. We’ve been providing quality services to clients throughout the country for over 20 years.
Commercial properties tend to be valued very often than residential properties because some are listed in books of accounts while others are insured annually.
What do property valuers in Kenya do?
There are many different types of property valuation, but the most common is residential. A registered property assessor will usually scan local real estate market conditions to get an idea of how much value a specific property may currently have. They’ll also take into account factors like location, size and amenities to come up with an estimate.
Some people choose to have their properties valued using an automated valuation tool like Zillow’s Property Value Estimator while others prefer the more personalised service offered by a professional valuer. Whichever option you go for, it’s important to make sure that you’re working with someone who is experienced in the Kenyan market and has access to up-to-date information.
What or who is a professional valuer in Kenya?
A professional property valuer is someone who has been specifically trained in the art of value estimation. They usually work for a commercial or institutional client, such as a real estate company or bank, and will often be called upon to provide services related to property valuation.
If you’re looking for an experienced valuer in Kenya then we recommend contacting Property Valuation Services Ltd. We have over 20 years of experience providing quality services to our clients throughout the country
What elements does a professional valuer assess during the property valuation?
A professional valuer will assess the following property elements during a valuation:
-Location
-Size
– Amenities
-Condition
-Property value
-Return on investment
What is a property valuation in Nairobi?
A property valuation in Nairobi will usually involve scanning the local real estate market conditions to get an idea of how much value a specific property may currently have. They’ll also take into account factors like location, size and amenities to come up with an estimate.
Some people choose to have their properties valued using Zillow’s Property Value Estimator while others prefer the more personalised service offered by a professional valuer. Whichever option you go for, it’s important to make sure that you’re working with someone who is experienced in the Kenyan market and has access to up
The Process of Land Valuation in Kenya
The process of land valuation in Kenya can be a long and tedious one, involving both professional and commercial expertise. The main steps involved are as follows:
-Scanning the local real estate market to get an idea of property values
-Analysis of factors like location, size and amenities
-Establishing an estimated value for the property
-Applying for a valuation certificate
-Selling the property at this value
If you’re thinking of investing in land in Kenya, it’s important to ensure that you have a good understanding of the process involved. Simply contacting a professional valuer will give you all the information that you need to make an informed decision.
Land valuation methods
Several different methods can be used to value land.
- Market Approach
The market approach is the most common method used in land valuation.
Local estate agents and brokers can provide you with valuable information about property values in your area, as well as tips on how to get the best deal for your money.
By using this information, you can establish an estimated value for the property that takes into account factors like location and size.
- Cost Approach
The cost approach involves estimating what it would cost to build a specific structure on the land in question. This includes things like surveying data, environmental studies and construction costs – all of which will come in handy when negotiating a purchase or sale.
- Income-Producing Potential Estimation
The income-producing potential estimation method is used to calculate what sort of rental income could be generated by the land in question. This can involve estimating things like population growth and market demand, both of which will give you an idea of how much money you could make from leasing or selling the property.
Why do I need to hire a land valuer?
1. You’re thinking of investing in land in Kenya and want to make sure that the value is realistic
2. Your estate agent or broker isn’t able to give you an accurate valuation
3. You want to know what the property’s worth before making an offer
4. You’re selling or buying land and want to make sure that the price is fair
5. You need to find out how much the property is worth for a mortgage or loan application to be accepted
6. You have inherited or purchased land, but you don’t know what it’s worth
Factors that Affect the Value of Land in Kenya
1. Location: The location of the land is one of the most important factors that affect its value – especially if it’s in a prime location.
2. Size and Shape: Land also has an impact on its value, depending on its size and shape. Pentlands, for example, are worth more than Mombasa Island real estate because of their strategic location near major port cities like Dar es Salaam and Kilifi.
3. Topography: The topography (or natural features) of the land can also affect its value – particularly if they’re scenic or have natural resources.
4. Access and Infrastructure: The availability of roads, schools, hospitals, etc. can also affect the value of land in a particular area.
5. Natural Resources: Lands with natural resources – like oil, gas, or mineral deposits – are usually worth more than land without them.
How much does Land Valuation in Kenya Cost?
Land valuations in Kenya can cost anywhere from Kshs.15,000 onwards depending on the type of valuation and the complexity of the property. When is a Land Valuation in Kenya Necessary?
A land valuation is often necessary when you’re looking to purchase or sell property, especially if the value of the land is unknown. Without a proper valuer’s report, interested parties won’t be able to make an informed decision about whether or not to invest in the property.
Do you have any valuation need? You can email us or call. Part of the consultancy we offer is property assessment and valuation.
FAQs:
How much is the valuation fee in Kenya?
This varies from place to place but typically valuations in Kenya cost between Kshs.15,000 and Kshs.50,000.
How do I value my property in Kenya?
There are a few steps you’ll need to take to properly value your property. First, you’ll need access to accurate real estates data, such as land ownership records and market trends. Then, you’ll need the help of a valuer – someone who is skilled at assessing property values and pricing properties accordingly.
Can I do the valuation myself?
There’s no one-size-fits-all answer to this question – each situation is different and may require a different approach. If you’re confident in your ability to assess value objectively, then by all means go ahead and
What is the valuation process?
Any valuation assignment begins with an instruction to conduct a valuation. Areas with more valuation instructions include Nairobi, Kisumu, Nakuru, Eldoret and Mombasa. In Nairobi, Westlands is one of the areas with high demand for valuation. The value of a property in any of the major towns in Kenya will always be up due to enhanced businesses.
Who regulates Property Valuers in Kenya?
Usually, a property valuer in Kenya will be a member of the Institute of Surveyors of Kenya and the Valuers Registration Board.
Does property management help in Valuation?
Property management assists in ensuring that there are maximum returns from the property and keeping financial records. This can help in enhancing the value of a property. Any qualified property valuer in Kenya can tell you how to use property management service to better the value of your property.
