Valuation Profession in ASEAN

A.B. Agosto, PAREB National Director

Country

Total land area

Total population

Gross domestic productprices

km2 thousand US$ million2015 2015 2015

Brunei Darussalam 5,769 417.2 12,909Cambodia 181,035 15,405.2 18,463Indonesia 1,913,579 255,461.7 857,603Lao PDR 236,800 6,902.4 12,639Malaysia 330,290 30,485.3 294,390Myanmar 676,577 52,476.0 65,392Philippines 300,000 101,562.3 289,503Singapore 719 5,535.0 291,938Thailand 513,120 68,979.0 395,726Viet Nam 330,951 91,713.3 193,407

ASEAN 4,488,839 628,937.3 2,431,969

Selected basic ASEAN indicators

ASEAN Countries Valuation Law and Regulation Country Governing Law Regulator

Brunei Do not have law and regulation on valuation

Cambodia Book of burden Ministry of Economics and Finance

Indonesia Regulation of the Minister of Finance Number 125/PMK.01/2008

Finance Profession Supervisory Center, Ministry of Finance

Malaysia VALUERS, APPRAISERS AND ESTATE AGENTS ACT 1981

Board of Valuers, Appraisers and Estate Agents

Philippines Real Estate Service Act Professional Regulation Commission-PRBRES

Singapore Appraiser Act Inland Revenue Authority of Singapore

Thailand Do not have law and regulation on valuation

Vietnam 10 laws that enacted Price Management Dept. Ministry of Finance

With ASEAN, real estate opportunities becomes more wider and sparkling.

With the 6th economy of the world

More trade and business transactions

More land to be valued (4, 488,839 sq.km.) and people (628,937) to be served

They need the services of credible and reliable real-estate valuers.