Maltese architects to help shape European property valuation standards
Kamra tal-Periti joins TEGOVA and will be launching chapter of property valuers locally
The Kamra tal-Periti (KTP) has joined the European Group of Valuers’ Associations, a move it says will give Maltese architects and civil engineers a more direct role in shaping European property valuation standards.
The KTP said its bid to become a full member of TEGOVA had been accepted, fulfilling an ambition it had held since 2011.
TEGOVA is the European organisation behind recognised valuation standards used across the sector. KTP said membership would allow it and its members to gain greater insight into those standards and contribute to their development.
The organisation said the move also strengthened its position as Malta’s legally recognised body for property valuers, a role it said the profession has held since at least the 18th century.
The KTP said the next step would be the launch of a Chapter of Property Valuers within the organisation, aimed at recognising members of the profession with the specialised skills needed to carry out property valuations.
It said the initiative forms part of wider efforts to raise standards in local property valuations and improve professionalism in the sector.
The KTP said it would continue working with the Malta Tax and Customs Agency, banks, insurance companies and industry bodies, including the Malta Bankers’ Association, the Insurance Association Malta, Property Malta and the Malta Development Association.
It said reliable valuations were important for the real estate, financial and bond markets.