Conclusion

The major objective of the survey was to establish if there is a shared need for a National Property Index. Although it is evident from those interviewed that some form of performance measure and analysis takes place and information gathered from various sources is reliable and adequate, the need for a property index received overwhelming acceptance. Accordingly we can draw the following specific conclusions:

• There is a shared need for a property index. The Index should not only cover the entire country but also have regional and sector specific indices.
• The property market is well diversified with properties types including Commercial, Residential, Industrial, Agricultural and Recreational.
• Support in the development of the Index is evident. This is mainly in the form of providing information, technical support and subscriptions. Donors or sponsors are however lacking.
• Some form of performance measurement and analysis takes place but the methods used are traditional and vary from one individual/organization to the next.
• The information used to carry out performance measurement is from diverse sources and there is no one common and reliable source.
• The preferred method to publish the index is through Newsletter in both hard copy and in electronic format.
• There is need for additional services in the form of production real estate research reports, customized portfolio analysis and comparisons between other types of investments.

Recommendations

From the conclusions we would like to make the following recommendations:

• That a National Property Index be developed. The approach to be adopted is participatory with each identified stakeholder being given an opportunity to contribute in a way they are comfortable with.
• Efforts be made to look for sponsors or organizations (Investors) that will provide seed money to start the development process. The index is a sustainable venture, which will be able to incur limited costs in terms of data availability and collection, generate income from subscriptions and also other customized services.
• A survey should be carried out in the other provinces to establish whether the investors and property consultants located in those areas have a similar need
• Explore ways of extending the index to cover the East African Countries.
• There is need to carry out an awareness campaign among property owners and property consultants to share information for the purpose of research. Secondly creating awareness through a marketing campaign will have a direct positive impact on the sustainability of the index as it is likely to attract more subscribers. However where information is shared, there must be an assurance of confidentiality.

 

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