Ethiopia is set to introduce a mandatory licensing system for real estate valuers as part of its new Real Estate Development and Immovable Property Transaction and Valuation Bill. The primary goal of this new regulation is to establish a more transparent, reliable, and professional property valuation process in the country. By ensuring that only certified professionals can conduct property valuations, the government aims to improve trust in real estate transactions and safeguard the interests of buyers, sellers, and investors.
Mandatory Licensing for Real Estate Valuers
A central aspect of the bill is the mandatory requirement that all real estate valuers obtain a professional license before they can appraise properties. The licensing process will be regulated by federal, regional, and city authorities to ensure that only qualified professionals are authorized to assess property values. This system is intended to standardize valuation practices and reduce the risk of inconsistencies that have affected the real estate market in the past.
By implementing this system, Ethiopia seeks to professionalize the real estate sector and reduce the influence of unlicensed brokers. The aim is to foster more accurate and trustworthy property valuations, based on market data and established valuation principles, providing a more consistent and reliable foundation for real estate transactions.
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