Last updated on  
 CAREERS PROPERTYVALUATION
Abac course will lift profession
Bangkok Post:
Monday January 10, 2005

SRIWIPASIRIPUNYAWIT

Assumption University of Thailand (Abac) has pioneered a four-year Property Valuation Management course in Southeast Asia to tap the growing demand for professional valuers and reflect the aims of the new Properly Valuation Act, which is expected to take effect this year.
According to Patima Jeerapaet, the founder and the chairman of Abac's Property Valuation Department, the university introduced abachelor's degree in Property Valuation Management three years ago, just as the property market was beginning its comeback after the bursting of the bubble in 1997. Currently, more than 200 students have selected the course as their major field of study.
Meanwhile, the essential need for qualified property valuers has continued to increase, with services in demand from businesses beyond real estate, says Mr Patima, who is now in charge of Introduction to Valuation and the Property Valuation Internship subjects.
"Whether you're in business or other professions, be it banking, finance, legal, accounting or even in public service, you'll find knowledge of property and asset valuation a passport to prosperity," he said.
Mr Patima, 38, has been involved in the real estate business for two decades and is also the managing director of an international real estate agent, Pasupat Realty Co. He said it had taken a long time to get valuation onto university curricula.

Currently, a handful of universities besides Abac provide some instruction or post-graduate training in real estate valuation, including Thammasat and Chula-longkorn universities.
At Abac, the valuation major is under the umbrella of the broader bachelor of business administration programme. The course comprises 142 credits, currently priced at 1000 baht a credit.
Subjects of interest include investment valuation, property law, computer applications in property valuation, professional valuation practice and ethics.

 
Valuation skills are needed in many fields beyond real estate, says Mr Patima.

Students will be taught to value different types of real estate spanning hotels, apartments, service stations, mines, hospitals,
ation, including Thammasat and Chula-longkorn universities.
At Abac, the valuation major is under the umbrella of the broader bachelor of business administration programme. The course comprises 142 credits, currently priced at 1000 baht a credit.
Subjects of interest include investment valuation, property law, computer applications in property valuation, professional valuation practice and ethics.

Students will be taught to value different types of real estate spanning hotels, apartments, service stations,

mines, hospitals, shopping centres, plants and machinery, farms and more.The programme also covers the valuation of intangible assets such as intellectual property, software, goodwill, technology, and human capital.
The course has been accredited by the London-based Royal Institute of Chartered Surveyors (RIGS). Graduates with two years of work experience can apply to be part of the worldwide network of RIGS members after passing its examination. It also takes at least one year of work experience for graduates to become qualified valuers.
The Property Valuation Act, meanwhile, will help encourage greater professionalism by setting standards of practice and ethics for local valuers

Mr Patima said the new law would require real estate valuers to be fully equipped with knowledge regarding property and valuation as well as the obtain licences. "Therefore, this will automatically lift the quality standard of valuers throughout the country."
Further demand for valuers is also being spurred by government initiatives to promote Thailand as a regional hub for key industries such as automobiles and aviation. Mr Patima said the accompanying rise in industrial property development would push demand for qualified valuers ana r^ise overall standards.
New graduates of the course can expect starting salaries ranging from 12,000 to 15,000 baht a month.
Abac also offers internships for students seeking experience abroad with reputable real estate development firms in Malaysia, New Zealand, Hong Kong, China and Singapore. However, the students are required to shoulder all expenses.


Assumption University of Thailand - www.au.edu
Bangkok 10240 Thailand Tel. (662) 723-2100-3 / Webmaster