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Consistency and Fairness of Property Valuation for Compensation for Land and Improvements in Zimbabwe

Consistency and Fairness of Property Valuation for Compensation for Land and Improvements in... AbstractProperty valuation for compensation of expropriated properties in Zimbabwe has been characterised by inconsistencies for decades. Previous studies have noted that displaced people are dissatisfied with the compensation paid by the expropriating authority. Even though many academic works were done on expropriation and compensation in Zimbabwe, issues surrounding consistency in property valuation practices and fairness of compensation paid remain unresearched. Thus, the purpose of this paper is to close this gap. Data for this study were collected through primary sources (questionnaire surveys to members of the compensation committee, private property valuers, designated property valuers and former commercial farmers) and secondary sources (literature surveys including a review of statutes, official reports, books, journals, and newsletters). Findings reveal that there is inconsistency in property valuation for expropriation, no clear legal definition of what constitutes fair compensation, and that views on the fairness of the compensation paid for expropriated properties in Zimbabwe are divergent. The study suggests that there is a need to review existing expropriation and compensation laws in Zimbabwe to create consistency in practice, thereby improving the fairness in the amount of compensation paid to the displaced person(s). http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Real Estate Management and Valuation de Gruyter

Consistency and Fairness of Property Valuation for Compensation for Land and Improvements in Zimbabwe

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Publisher
de Gruyter
Copyright
© 2021 Partson Paradza et al., published by Sciendo
ISSN
1733-2478
eISSN
2300-5289
DOI
10.2478/remav-2021-0030
Publisher site
See Article on Publisher Site

Abstract

AbstractProperty valuation for compensation of expropriated properties in Zimbabwe has been characterised by inconsistencies for decades. Previous studies have noted that displaced people are dissatisfied with the compensation paid by the expropriating authority. Even though many academic works were done on expropriation and compensation in Zimbabwe, issues surrounding consistency in property valuation practices and fairness of compensation paid remain unresearched. Thus, the purpose of this paper is to close this gap. Data for this study were collected through primary sources (questionnaire surveys to members of the compensation committee, private property valuers, designated property valuers and former commercial farmers) and secondary sources (literature surveys including a review of statutes, official reports, books, journals, and newsletters). Findings reveal that there is inconsistency in property valuation for expropriation, no clear legal definition of what constitutes fair compensation, and that views on the fairness of the compensation paid for expropriated properties in Zimbabwe are divergent. The study suggests that there is a need to review existing expropriation and compensation laws in Zimbabwe to create consistency in practice, thereby improving the fairness in the amount of compensation paid to the displaced person(s).

Journal

Real Estate Management and Valuationde Gruyter

Published: Dec 1, 2021

Keywords: compensation; consistency; expropriation; fairness; Zimbabwe; Q15; Q51

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