Please use this identifier to cite or link to this item:
http://repository.futminna.edu.ng:8080/jspui/handle/123456789/6162
Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Udoekanem, Namnso Bassey | - |
dc.date.accessioned | 2021-07-03T13:23:09Z | - |
dc.date.available | 2021-07-03T13:23:09Z | - |
dc.date.issued | 2018 | - |
dc.identifier.citation | Udoekanem, N.B. (2018). Valuation of Urban Commercial Properties in Nigeria for Secured Lending: Issues and Developments. International Journal of Built Environment and Sustainability, 5 (1), 68-77. | en_US |
dc.identifier.uri | 10.11113/ijbes.v5.n1.247. | - |
dc.identifier.uri | http://repository.futminna.edu.ng:8080/jspui/handle/123456789/6162 | - |
dc.description.abstract | Valuation for secured lending is required when an interest in real property is used as security for a loan. The outcome of such valuation will help the lending institution to achieve commercial prudence in lending as well as avoid taking undue risk. This paper examines the issues and developments in the valuation of urban commercial properties in Nigeria for secured lending purposes. It argues that due to the volatile nature of the Nigerian economy, coupled with the linkage between the economy and commercial property markets, the maximum amount of loan to be granted by lenders in the country using interest in commercial property as collateral should be based on the Mortgage Lending Value (MLV) and not the Market Value (MV) of the property, although the market value should also be reported in the valuation. A case study is used to demonstrate the valuation. It further contends that since the inputs for determining the MLV of a commercial property must be derived from long-term trends in the property and financial markets, it is more stable than MV when used to determine the maximum amount of mortgage loan to be granted by a lender. It concludes that the stability of the MLV makes it more reliable than the MV in achieving commercial prudence in mortgage lending as it fits into the long-term nature of mortgage loan repayment. | en_US |
dc.language.iso | en | en_US |
dc.publisher | International Journal of Built Environment and Sustainability,. Published by the Faculty of Built Environment, Universiti Teknologi Malaysia (UTM), Johor Bahru, Republic of Malaysia. | en_US |
dc.subject | Commercial Property | en_US |
dc.subject | Secured Lending | en_US |
dc.subject | Market Valuation | en_US |
dc.subject | Mortgage Lending Valuation | en_US |
dc.subject | Nigeria | en_US |
dc.title | Valuation of Urban Commercial Properties in Nigeria for Secured Lending: Issues and Developments | en_US |
dc.type | Article | en_US |
Appears in Collections: | Estate Management & Valuation |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
UDOEKANEM UTM 247-650-1-PB Valuation of Urban Commercial Property for Secured Lending.pdf | 480.77 kB | Adobe PDF | View/Open |
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.