Valuation and compensation
DOI link for Valuation and compensation
Valuation and compensation book
The chapter offers insightful and factual information on property valuation in the country and also as the basis for peer review in sub-Saharan Africa. It seeks to provide an opportunity to fix gaps in promoting real estate markets in the subregion. Specific strategic interventions that have been implemented in Ghana to support real estate valuation are covered for the benefit of industry practitioners, investors, academia and other market players.
It further treats the five traditional valuation methods to afford a deeper understanding. Distinctive fundamentals of each of the methods are examined to establish the basis of adoption and preference over others. The chapter anchors efficient and effective valuation practices on the enforcement of valuation standards and guidelines, digital databases, computer-assisted valuation systems and research and development. The current situation of each of these pillars has been examined to reveal the strengths and weaknesses for future research.
Compensation has been fully treated from acquisition processes through assessment of the quantum to final payment, all within the legal framework. A test on a constitutional provision of fair and adequate compensation was conducted using two case studies within the rural and urban context, which reveals a compliance.