Property Valuation Costs

Property Valuation Cost/ Fees

There exist several purposes for which valuation is carried out. These include and are not limited to for valuation are for sale/buying, loan collateral, insurance, auction, rental assessment and book keeping purposes

Valuation is carried out on different classes of property, the common ones being land and buildings. Other than that, valuation is also carried out on motor vehicles, plant & machinery and movable assets such as furniture, fittings and other equipment.

So, how much does it cost to get my property valued?

Valuers are guided by the Valuers Act Cap 532 of the Laws of Kenya, Third schedule revised in 2011 that provides the scale of fees. The scale is as follows;-

• Urban  rating and agriculture

First Kshs.  5,000,000/- at 1.0 per cent

Residue at 0.25 per cent

• Compulsory acquisition

First Kshs.  5,000,000/- at 2.0 per cent

Residue at 0.5 per cent

• Rental Valuation

First Kshs. 800,000 at 10 per cent

Residue at 5 per cent.

• Plant,  machinery  and automobile,

First Kshs. 10,000,000 at 1.5 per cent

Residue at 0.5 per cent.

• Furniture, fittings, equipment, trading stock and going concern,

First Kshs. 2,000,000 at 5.0 per cent

Residue at 2.5 per cent.

• Minimum valuation fees

Kshs. 25,000 for any valuation.

• Consultancy

A minimum of Kshs. 5,000/- per hour where such consultancy does not involve carrying out a valuation and compilation of a valuation report or advising on the value of the property.

• Travelling Expenses and disbursements:

These shall be based on the costs incurred in undertaking the valuation.

            The above law was made on 13^th July, 2011 by the then Minister for Lands, James Orengo and amended vide legal notice No. 26 of 2023 by CS for Lands, Public Works, Housing & Urban Development