Business
Property, Best Collateral Worldwide – NIESV
An Estate Valuer and the former chairman of the Nigeria Institution of Estate Surveyors and Valuers (NIESV), Lagos state chapter, Dr Bolarinde Patunola has said that property is the most acceptable collateral for mortgage facilities all over the world, and hence, a sure means of wealth creation.
Patunola who was speaking to newsmen recently in Lagos on tackling some challenges in housing sector, and how to chat a new course in property market, stated that property investment usually attracts special attention because of its definable pattern of risk.
He said that the yield may be low, but that the rental and capital growth over the time will instill confidence in the investors as they will stand to benefit at the long run.
According to him, “if the property investment is operated by the professionals, it remained the most acceptable collateral for mortgage facilities all over the world, a sure means of wealth creation, and not easily traded off, or disposed like stocks and shares.”
He said further “Investors always want to know the monetary worth of a property to assist them in their quest to take decision or investment style”.
On the steps to a successful operations, Patunola underscored tehneed to understand the intricacies of property valuation among others in the sector.
He also tasked estate surveyors on the need to make contributions toward reformation and transformation of the real estate market for the purposes of creating job opportunities.
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