What common methodology for property valuation does Abang Johari expect across Asean?

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Abang Johari Anticipates a Common Property Valuation Methodology for Asean

Premier Tan Sri Abang Johari Openg has expressed confidence that Asean can establish a unified approach to property valuation. This expectation was articulated during the 25th Asean Valuers Association (AVA) Congress, where he highlighted the potential for such a common methodology to enhance city planning and property assessment across the region. While the specific details of this anticipated methodology are not elaborated upon, the underlying principle points towards a more standardised and comprehensive evaluation process for properties within Asean member nations.
Asean Valuers Association Congress as a Platform

The 25th Asean Valuers Association (AVA) Congress served as a significant forum for discussions on property valuation and city planning. Abang Johari viewed the congress as an opportune moment for valuers to exchange novel ideas and develop methodologies that could reshape urban development and accurately appraise property values throughout Asean. This gathering provided the backdrop for his assertion regarding the feasibility of a shared valuation framework.
Emphasis on Green Building and Conducive Environments

In Sarawak, there is a concerted effort to encourage real estate developers to adopt the Green Building Index (GBI) for their projects. Abang Johari noted that constructing buildings aligned with green principles not only elevates their value from a city planning perspective but also fosters a more favourable living and working environment for residents. This focus on sustainability and environmental quality is intrinsically linked to the broader concept of property valuation, suggesting that such factors may form part of a future common methodology.
Strategic City Planning and Property Value

The Premier underscored the importance of integrated city planning in determining property worth. He indicated that even a desirable locality might not achieve its full market potential if the surrounding environment is not conducive. This statement implies that a comprehensive property valuation methodology would need to consider not just the physical attributes of a property but also its integration within a well-planned, sustainable, and accessible urban landscape, including aspects like traffic flow and building heights.

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What common methodology for property valuation does Abang Johari expect across Asean?

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