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PROPERTY MARKETS VALUATION

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The poor efficiency of the real property market, however, can be improved. Experience suggests that the haziness of the knowledge of price can be overcome by using sophisticated valuation techniques, publishing data on sale analyses and market information, and professional estate agencies. A government initiative to minimize dealing costs by reducing stamp duties and other fees may help a substantial influx of funds in the market, where again a competitive price may be formed. In spite of various imperfections, it has been held by property economists that the property market cannot be grossly identified as an inefficient market.