The study examines adherence to valuation standards in Nigeria to improve trust in real estate valuations. A mixed-methods approach involved 357 registered estate surveyors and valuers in Lagos, Enugu, and Port Harcourt. The results show that 91.87% of estate surveyors and valuers regularly use the Nigerian Valuation Standards, with Lagos having the highest adherence with a mean of 3.26, followed by Port Harcourt with a mean of 2.91, and Enugu with a mean of 2.82. The analysis of variance indicated a significant regional difference at p = 0.040. This difference is observed especially between Lagos and Enugu at p = 0.044). While 93.56% were aware of international standards, 41.44% indicated moderate or poor compliance. Regulatory enforcement was deemed inconsistent, with 53% confirming its effectiveness. The analysis showed a strong positive correlation between institutional support and compliance at R² = 0.954, p < 0.001, emphasising the importance of technical training. The major challenges affecting valuation accuracy are client pressure (52.94%) and economic instability (43.98%) in Nigeria. The study highlights the need for stronger institutional frameworks, mandatory professional development, and region-specific strategies to standardise and restore confidence in property valuations in Nigeria.
Ike-Akude et al. (Thu,) studied this question.
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