DOI link for Valuation Systems
Valuation Systems book
The research investigates whether the Emirati residential valuation system (RVS) as currently constituted is fit for purpose. Evaluation criteria include: reasonableness of valuations, information systems data transparency and accessibility, and institutional administrative capabilities. Smart development optimises resource allocation in reasonably stable markets. A high calibre bureaucracy impartially interacts with private sector market players and the public, informed by a robust Residential Valuation System to: use foresight to set long-term sustainable objectives and prevent ill-considered urban sprawl and set environmental limits. The exploration into the structure and dynamics of the UAE housing markets found that Emirati property markets are prone to exogenous risks and spatially polarised or segmented. The implication is that a robust Emirati RVS requires substantial macro and micro information to adjust valuations, according to location. The RVS Principal or 'P2' requires an adequate and reliable Information System (IS).