Valuation of heritage properties is different from other asset classes in the sense that it is scarcely traded in the market. The uniqueness of heritage properties make them difficult to be valued using the existing conventional methods.
Essentially, it is very important to assess the value of heritage properties in order to :-
1) Acknowledge and compliment the full worth of heritage properties,
2) Appreciate the need for maintenance and preservation of heritage properties and,
3) Assist in responding calls for more accountability for the sustained use of these properties.
Thus, past perception where people believe that heritage properties are non-reproducible, non-economic commodity and non-substitutable are some of the challenges which exist in valuing heritage properties today. The objectives of the webinar are as follows :
- Introduction to heritage property valuation
- Issues and challenges in valuing heritage properties
- Legal requirements on heritage property valuation
- Types of heritage values
- Factors affecting heritage property values
- Valuation Approaches
CPD accreditation: BOVAEP (2 credit hours), RISM (2 credit hours)