The Need for Entrepreneurial Skills Development in Property Valuation Education in Nigerian Universities

Abstract

This study examined property investment valuation education in Nigeria in the context of what should be taught, how it should be taught and the entrepreneurial usefulness of what has been taught. Data for the study were obtained using structured questionnaires administered to graduating real estate students in a Federal University in Nigeria who have been taught property investment valuation courses for a period of four academic sessions. The course content was based on the minimum benchmark academic standards of the National Universities Commission. The study found that the students’ overall level of understanding of the basic topics in property investment valuation was highest in the definition of property investments and lowest in hedonic modelling of property investment values. The study advocates for practical-based property investment valuation curriculum at the university level in which property investment valuation is taught together with valuation of financial assets with real time problem-based learning to facilitate the development of entrepreneurial skills in the students to enable them create jobs for themselves and become self-reliant after graduation.