Purpose decisive result property valuation


Real Estate Appraisal been rated as sketchy and asynchronous - Due to the rapid changes in real estate prices, as well as the management of state property. Here Pham Thanh Hung, deputy general director of CEN GROUP will talk about the problems of real estate valuation Vietnam.

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As a real estate business, how he evaluated the benefits of real estate valuation?
The valuation is actually very necessary, but it depends on the purpose of evaluation. The purpose of the appraisal to buy another with the purpose of evaluating who make products to sell, for the purpose of capital contribution or manufacturing business.

For each evaluation purposes we have identified authentication method, the system calculates a risk factor as well as the appropriate adjustments to the results we offer. Because the same property, but with each different purpose, it give different results.

According to property valuation activities in Vietnam have professional or not, and have to meet the market demands it or not, sir?
Services general valuation and property valuation in particular began to gain legal corridor for several years since the ordinance prices, particularly since 2005 when the decree 101 and Circular 17 of the finance. Since then, we start with the concept of business valuation and provide valuation services to people in need.

So far, after 6-7 years of operation has had several businesses Valuation get his place. The role of business valuation is becoming more important. Example Company Valuation our century annual sales doubled, tripled compared to the previous year. This is very striking growth that the industry is very new, not many businesses more involved in this market. So growth is very high. This demonstrates that social needs are great for this service.

There were also some comments from property valuation activities in Vietnam operation is not good because the needs of people seeking services are limited and manpower for this sector is still limited. What do you think about this?
I think this is true. Because the management plan of the Department and Treasury rates to 2010 we had 1,000 appraisers price but this time (2012) we have about 300-400 appraisers. So the number of people who have a practicing certificate is not enough.

He can assess the legal limitations of property valuation activities in Vietnam today?
Valuation is the business area's conditions and those working in this field must have a practicing certificate, must pass an exam at the national level by the Ministry of Finance organized, to learn the specialized field. So it is difficult to identify the human resources for the sector.

The second is the legally prescribed. Standards and norms of our valuation is still quite new. Mostly we experienced learning and writing of the countries and comply with standards of Vietnam, is still not adequate for all areas.

For example in the field of new intangible assets recently also been adopted. Such legal corridor, to set standards for the appraisal of our current price needs to be improved further.

For property valuation activities more effectively, we need a means?
First of all we need a corridor valuation standards. Because we must be based on that standard to conduct accurate appraisal. What is particularly important is that we must get the full database, because valuation database market is extremely important.

Therefore we must have central databases to ensure the authenticity, accuracy and timeliness of the data source. Finally we have the human resources and qualified experienced and honest enough objectivity in their professional activities, to provide exactly the service the most.

Time before being pushed up real estate prices are currently high, the down low. Stories of real estate up and down so the valuation activity has continued to develop data better?
Actually CEN Group of Companies has a reputation valuation. That helps us always to assess the good projects to reach customers. That makes a huge success ... Our real estate supermarket opened. The appraisal of the project and assess whether products have received market acceptance is not our very strong. And we think the valuation activities always hold important positions. The problem is that we determine whether we aimed our goal to provide service only.

Well, thank you!