Minister Biruta tips property valuers on ethical standards

The Minister of Natural Resources, Vincent Biruta, has urged property valuers to adhere to high ethical standards to earn the trust of businesses and the public. The Minister was speaking at the opening of a two-day conference on property valuation. “Valuers should do their work professionally to help buyers or sellers know properties’ financial value,” Biruta said, adding that efficient valuation reduces time and cost of business which contributes to economic growth of the country. The event was jointly organised by the Ministry and the the Institute of Property Valuers (IRPV). Fred Rwihunda, from the Institute of Engineers Rwandans, on his part urged the public to use the services of professional valuers whenever they are carrying out transactions. Rwihunda pointed out that the professional valuers are best placed to guide and advise to the benefit of property owners and investors. “Professional valuation to the country will attract investors, they will be able to understand its future prospects and laws governing it, sellers and buyers shouldn’t be cheated – they should use professionals to guide them, they always have data about property market,” Rwihunda said. The valuation conference attracted various stakeholders including practicing valuers, graduates and students in Valuation as well as property agents.Egide Gatsirambo, the president of valuers institute said participants will be exposed to best international practices. The institute was set up in 2010 and has less than 100 Rwandan professional valuers. Minister Biruta pointed out that the number of valuers in the country is still low compared to the available tasks, and promised to expedite the accreditation process of new graduates to address the shortage. Gatsirambo decried low understanding of the importance of the organisation in property market, adding that more awareness would be conducted by the institute. editorial@newtimes.co.rw

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Minister Biruta tips property valuers on ethical standards