Estate Surveying and Valuation: A Profession Endangered by Quackery in Awka, Anambra State (Published)
This paper aims to investigate the impact of quackery in Estate Surveying and Valuation practice in Awka, Anambra State. The challenges confronting the Estate Surveying and Valuation profession globally are substantial, and the future of the profession, particularly in Nigeria, is being questioned. Data for this study were gathered using questionnaires distributed to twenty-five (25) registered Estate Surveyors and Valuers in Awka. A total of twenty (20) completed questionnaires were returned and analyzed. The collected data were processed using Descriptive Statistics, including Weighted Mean Scores and Frequency Tables. The study found that the Estate Surveying and Valuation profession has significantly contributed to Nigeria’s economic growth. It also highlighted that factors such as the unregulated entry of quacks into the profession and the lack of awareness among clients are contributing to the rise of quackery. The research further showed that quackery undermines the positive role of Estate Surveyors and Valuers in real estate practice, potentially leading to the extinction of their relevance in estate agency and property management if not addressed. The study identified several factors that encourage quackery, including the high earnings from estate agency and property management, client ignorance, the shortage of qualified professionals, and clients’ reluctance to incur additional legal fees in litigation. The paper recommends that all real estate stakeholders and the general public be continuously educated through conferences, seminars, and workshops on the practice of Estate Surveying and Valuation and the dangers posed by quackery. The public should also be sensitized to the roles of Estate Surveyors and Valuers in the real estate market. Additionally, ESVARBON must strengthen its resolve to regulate estate agency and property management in Nigeria and advocate for a bill granting exclusive rights to Estate Surveyors and Valuers in these areas, while also pushing for its passage into law. Furthermore, the process for admitting new graduates into the Institution should be simplified to accommodate the increasing demand for qualified professionals.
Keywords: Anambra State, Awka, Quackery, Valuation, estate surveying
An Investigation into the Role of Estate Surveyors and Valuers in Mineral Valuation: A Study of Anambra State (Published)
This study investigated the role of Estate Surveyors and Valuers in mineral valuation in Anambra State, Nigeria. The research aimed to determine the extent to which Estate Surveyors and Valuers are involved in mineral valuation and to identify the challenges they face in carrying out their duties. The study utilized a mixed-methods research design, combining both qualitative and quantitative approaches. A total of 65 Estate Surveyors and Valuers respondents were surveyed using a structured questionnaire. The study found that Estate Surveyors and Valuers prioritize and concentrate more on property valuation than on mineral valuation in Anambra State. They should be involved in the valuation of mining properties, compensation negotiations, mineral lease rentals, and royalty assessments. However, their role in mineral valuation is not well understood by stakeholders in the mining sector. The study identified inadequate funding, inadequate infrastructure, and inadequate regulatory frameworks as the major challenges facing mineral valuation in Anambra State. The research also revealed that the use of internationally recognized standards for mineral valuation is not prevalent in Anambra State. This suggests the need for Estate Surveyors and Valuers to adopt global best practices in mineral valuation to enhance the credibility of the process and improve the investment attractiveness of the mining sector. The study recommends the need for capacity building and training of Estate Surveyors and Valuers in mineral valuation. This will enhance their knowledge and understanding of the mining sector and its valuation processes, leading to improved valuation outcomes.
Keywords: Anambra State, Minerals, estate surveyor and valuer, mineral valuation
Assessment of The Trend of Rental Returns on Private Hostel Investment in Neighbourhoods of Public Tertiary Institutions in Anambra State (2011-2022) (Published)
The increasing number of students in public tertiary institutions in Anambra state has prompted serious accommodation problems and on-campus hostels can no longer cope with the attendant demand. The high rate of demand for housing by students led to the development of private accommodation known as hostels or lodges around these institutions of higher learning. Establishment of private hostels requires huge capital outlay; hence, investors need to have a fair idea of returns from such investment before committing their resources. This research aims to assess the trend of rental returns from private hostels investment in selected neighbourhoods of public tertiary institutions in Anambra state from 2011 – 2022. The study adopts stratified sampling technique that represents the entire population. Data for the study were elicited Estate Surveyors and Valuers practicing in Anambra state through the use of structured questionnaire, and analyzed using tables, graphs and trend analysis. The study indicated that the trend of rental returns of private hostels shows a steady increase in all locations over the study period. The study recommends that intending investors should consult real estate professionals for investment advice before delving into hostel property development, and they should also consider public private partnership (PPP) contractual arrangements such as Design Build Operate and Transfer (DBOT) in hostel development.
Keywords: Anambra State, Investment, Trend, private hostel, rental returns
Assessment of Building Survey as a Tool for Building Maintenance Program a Study of Awka, Anambra State (Published)
Sequel to the inefficiencies found in building maintenance, which has reduced the satisfaction level and resulted in many ugly incidents like building collapse and fast dilapidation, this work was conceived with the aim of evaluating the building survey as a tool for efficient building maintenance. The study adopted a survey design involving literature review, personal interviews and questionnaire survey. The collated data was analyzed in percentages and it was found that building survey is a very vital tool in building maintenance and it has been neglected in the study area. The study therefore recommend that building survey should be put into consideration before any maintenance work will be carried out, both in private and public buildings and there should be full funding and monitoring of the process to yield better results.
Keywords: Anambra State, Assessment, Awka, Building Survey, Building maintenance, Program