Event Title

Challenges of Real Estate Appraisers in Kosovo

Session

Civil Engineering, Infrastructure and Environment

Description

Kosovo is a new country with a goal to integrate quickly into the large family of EU countries. To achieve this, old work practices are changing, and new practices are also being applied in different fields of human activity. Real estate property plays an important role in the process of economic development and is considered as sacred. To be treated this way, the property must be evaluated correctly. Following the examples of EU countries, the Kosovo institutions have organized training, testing and licensing of the first domestic real estate appraisers. The basic data to perform this profession are scarce, incomplete or even misleading. Currently, only banks require real estate appraisal of properties. The property left as a mortgage loan should be valued by licensed professionals. In the future it is expected that the appraisal of real estate property will be mandatory for every real estate transaction between parties. This paper seeks to highlight the challenges faced by real estate appraisers in their day-to-day work in Kosovo's conditions.

Keywords:

Real estate, construction, property value, economy, law

Session Chair

Muhamet Ahmeti

Session Co-Chair

Nol Dedaj and Nexhmi Krasniqi

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-437-54-7

Location

Durres, Albania

Start Date

29-10-2017 11:00 AM

End Date

29-10-2017 1:00 PM

DOI

10.33107/ubt-ic.2017.55

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Oct 29th, 11:00 AM Oct 29th, 1:00 PM

Challenges of Real Estate Appraisers in Kosovo

Durres, Albania

Kosovo is a new country with a goal to integrate quickly into the large family of EU countries. To achieve this, old work practices are changing, and new practices are also being applied in different fields of human activity. Real estate property plays an important role in the process of economic development and is considered as sacred. To be treated this way, the property must be evaluated correctly. Following the examples of EU countries, the Kosovo institutions have organized training, testing and licensing of the first domestic real estate appraisers. The basic data to perform this profession are scarce, incomplete or even misleading. Currently, only banks require real estate appraisal of properties. The property left as a mortgage loan should be valued by licensed professionals. In the future it is expected that the appraisal of real estate property will be mandatory for every real estate transaction between parties. This paper seeks to highlight the challenges faced by real estate appraisers in their day-to-day work in Kosovo's conditions.