Towards Ascertaining the Acceptable Margin of Error To Property Investment Valuation Stakeholders in Nigeria
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The International Institute for Science, Technology and Education (IISTE)
Abstract
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This paper investigates the allowable range of margin of error to the majority of investment valuation
stakeholders in the Nigerian valuation industry. To achieve the objective of the study, the opinions of the
stakeholders (represented by Estate Surveyors and Valuers, Property Development Companies/Commercial
Banks and Courts) were sought using structure questionnaires in conjunction with interview guide. The data so
collected were subjected to simple statistical analysis. The results of analysis showed that while Estate Surveyors
and Valuers favoured a range of ±10.8%, Courts went for a range of ±10.2% while clients represented by
Property Development Companies and Commercial Banks were inclined to a range of ±11.6%. Taking into
consideration the result of the analysis, the study recommends the mean consensus margin of error of 11% based
on the views of the three sampled stakeholders (i.e. 1/3 of 10.8 + 10.2 + 11.6) as shown above.
Keywords
TH Building construction