37,000 Real Estate Appraisers in China

Here is a fascinating look at the appraisal profession in China:

Since the opening up to the outside world 30 years ago, in particular, the birth of the first real estate appraisers in 1993, the real estate appraisal industry has seen rapid development. Today there are 37,000 real estate appraisers in China with 33,000 being certified real estate appraisers, and there are nearly 5,000 real estate appraisal agencies of which 168 have first class qualifications, according to news from the International Forum on “Appraisal and Property Protection” held in Beijing.

The International Forum on “Appraisal and Property Protection” was co-sponsored by the Society of China Real Estate Appraisers and Real Estate Brokers, the International Federation of Surveyors and the Hong Kong Institute of Surveyors.

Nowadays the real estate indemnity system in China is far from perfect and the settlement of disputes urgently needs the assistance of real estate appraisal professionals to provide references in determining reasonable indemnity.

There are 37,000 appraisers in China with a population of 1.3 billion. And there are 90,000 appraisers in the U.S. with a population of 300 million. It appears that China may need a few more appraisers over the next couple of decades. Now, might be a good time to brush up on your Mandarin.

Nanjing Road