Something About Company
The Namibian Council for Property Valuers Profession, inaugurated in March 2025, is a statutory regulatory body established under the Property Valuers Profession Act, 2012 (Act No. 7 of 2012). The council regulates and licenses property valuers to ensure high ethical standards and conformity to international standards, addressing the need for professional, independent, and accurate valuations within the country’s property market.
Key Aspects of the Council
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- Establishment: Inaugurated by the Ministry of Agriculture, Water and Land Reform, it functions under the valuer general in the directorate of valuation and estate management.
- Purpose:
To eliminate unprofessional practices in the valuation sector and regulate the market, shifting the responsibility away from banks, which previously served as both financiers and valuation referees.
- Regulatory Powers:
- Registration: It handles the registration of professional valuers, associate professional valuers, valuers in training, and student valuers.
- Standards & Ethics: Establishes a code of conduct and enforces professional standards, ensuring accurate and market-related valuation.
- Legal Basis: Operates under the Property Valuers Profession Act 7 of 2012, as amended by the Amendment Acts of 2018 and 2022.
- Context: The Council was created to address concerns over fluctuating property prices and a lack of regulation in the valuation industry, aiming to protect the public.
