The Rational of the graduate program ‘Urban Land and property Valuation’
||The Rational of the graduate program ‘Urban Land and property Valuation’
||11th ERES EDUCATION SEMINAR - "Real estate education: Built environment schools vs business schools" - Delft (Netherlands) November 27th-28th 2015
||Presently, rapid property development in forms of construction of buildings and infrastructure has been observed throughout the country. These development has been closely related to growth in the economy of the country and flourishing of market economy system. Property Development in tern requires well function legal system, good investment climate, and finance and health economic environments and working conditions. The main objectives of the graduate program on urban land and property valuation emanates from the need to supply a skill manpower desires of the country for enormous property development and constantly growing property market. Each year the country commits more than half its capital outlays to land development, building and infrastructure the graduates of the program were assumed to deliver the skill and knowledge requirements for such development. The real estate industry is rapidly moving from essentially responding to client requirements for structures to providing business solutions and sustainable development. This makes property a key sector of the economy. The market-friendly policy of the Ethiopian government has also created favourable condition of property development and investment. Property valuation may be considered as one of real estate activities. Everyone uses real estate in one way or another and must pay for its use, which involves a decision about value. Hence widespread need for appraisals is apparent. Practical decisions concerning value must be undertaken based on some kind of appraisal or valuation of real property. There is no institution that provide real estate education in the country; while the need assessment conducted on urban and property reveals that there is extremely high level of professional needs at all levels of city administration as well as private sectors. Whatever the purpose of the property valuation, it is crucial to undertake it based on facts and accurately as pricing it too high or too low may have detrimental consequences. The intended graduate program is developed to enrich the students’ practical knowledge with skills and abilities specific to real property valuation; it provide rigorous understanding of property markets and a range of practice based knowledge and skills within a flexible learning environment; it also covers essential elements of Construction, Economics, Legal Studies and Valuation, finance and accounting and will provides the ability to relate the property industry to other built environment fields and the wider business context.
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