Challenges Associated with Valuation of Private Hospital Properties in Jos, Nigeria

Ngozi Ifeanyi Uwaezuoke, Gayam Kasimu Mas’udd, Abdulrazaq Musa Abiodun

Abstract

Various valuation models were developed to value different interests in land and landed property. Although the basis of valuation might be the same, the methodology may sometimes differ to capture certain peculiarities and attributes in respect of a particular property. The study looked into the difficulties of valuing specialised properties such as hospitals. The study's participants are registered estate survey and valuer firms in Jos, Plateau State. The researcher used a random sampling technique survey approach and administered questionnaires. Both primary and secondary data sources were used to complete this study. Based on this, the sample frame for this study was made up of Estate firms; a total of 19 Estate firms were sampled. The researcher used the Statistical Package for Social Science Students (SPSS) to analyse the data. According to the study, in the valuation of private hospitals in Jos, estate surveyors and valuers used the replacement cost method, while 20% used the investment method. Information on land value should be published in a real estate gazette to keep estate surveyors and valuers up to date on land value trends. The study suggests that plant, equipment, and furniture values be published in a real estate gazette to alleviate estate surveyors' and valuers' sufferings and reduce valuation value gaps.




Keywords


valuation; hospital; property; Jos, Nigeria

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References


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