The Contribution of a non-governmental institution to development of property market: case story of the Lithuanian association of property valuers

ENThis Report represents an attempt to illustrate how a non-governmental institution might contribute to the development of a new professional activity and property market. The attempt is based on the case of operations of a particular professional association. The activity of valuation and valuation principles originated from private sector in Lithuania. Later, educational and public institutions became involved in the process. In the environment of transitional economy, professional association of valuers has to solve various issues of post-graduate training, professional recognition, and professional indemnity insurance. Pursuing of professional recognition is not restricted to adopting of the provisions acceptable for professional activity of valuers. It is also a contribution to propagation of market principles and to implementation of civilized business approaches.