Valuation services in Malaysia are provided by Registered Valuers who are licensed under the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP), through a valuation firm in Malaysia. All valuation reports prepared by valuation firm in Malaysia are prepared in accordance with the Malaysian Valuation Standards (MVS) and must comply with the Valuers, Appraisers, Estate Agents and Property Managers Act 1981 and Valuers, Appraisers, Estate Agents and Property Managers Rules 1986.
Statutory Fee Scale
Under Rule 48 and the Seventh Schedule of the Valuers, Appraisers, Estate Agents and Property Managers Rules 1986, valuation firm in Malaysia are not permitted to charge fees exceeding the prescribed scale.
For the Land and Building (Fees for other capital valuation/rating valuation services based on an ‘Improved Value’ basis), the scale of fees is as below: –
1/4% on the first RM100,000/-
1/5% on the residue up to RM2 million
1/6% on the residue up to RM7 million
1/8% on the residue up to RM15 million
1/10% on the residue up to RM50 million
1/15% on the residue up to RM200 million
1/20% on the residue up to RM500 million
1/25% on the residue over RM500 million
(Minimum fee: RM400/-)
(The above fee do not include out-of-pocket expenses and 8% Service Tax).
Other valuation fee scales as prescribed by BOVAEP and adopted by valuation firm in Malaysia are as follows:
Valuations for land acquisition (fees payable by the Land Administrator)
Capital valuations for submission to the Securities Commission Malaysia and Bank Negara Malaysia
Plant and machinery valuations
Rental and rating valuations
Mass valuation services for local authorities
Retrospective Valuations : For valuations dated at least five (5) years prior to the current date, valuation firm in Malaysia may charge fees of up to ten (10) times the standard scale, subject to negotiation with the client. This does not apply to land acquisition valuations.
In addition to the standard valuation fees, valuation firm in Malaysia may charge for:
Disbursements and expenses, including printing, plans, document copies, travel, and other costs actually incurred
Professional attendance and negotiations : RM150 per hour or RM800 per 8-hour working day (meetings with solicitors, consultants, or authorities)
Court or tribunal appearances : RM200 per hour or RM1,000 per 8-hour working day for giving expert evidence
Preparation for negotiations or court proceedings, charged as additional professional fees.
How a valuation fee is calculated?
Market Value of a terrace house with the estimated market value of 1,000,000/-. The purpose of valuation is for intended sale.
First RM100,000 x 0.25% = RM250
Balance RM900,000 x 0.20% = RM1,800
Total professional fee = RM2,050
Disbursements charged for travelling, title search, printings, etc. say RM500
Service Tax @ 8% = (RM2,050 + RM500) x 8% = RM204
Total chargeable all in fee = RM2,754
You can request a discount on the valuer’s professional fee. However, any reduction is typically assessed on a case-by-case basis and depends on the complexity of the valuation assignment.
Assuming a 30% discount is given, the calculation will be as follows:-
Professional fee = RM2,050 – 30% = RM1,435
Disbursements charged for travelling, title search, printings, etc. say RM500
Service Tax @ 8% = (RM1,435 + RM500) x 8% = RM154.80
Total chargeable all in fee = RM2,089.80
If you have any questions or require further clarification on the above, please feel free to contact Agility Valuers & Property Consultants. We would be pleased to assist you.
Frequently Asked Questions
Who is allowed to provide valuation services in Malaysia?
Valuation services in Malaysia must be carried out by Registered Valuers who are licensed under the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP). All valuation reports must comply with the Malaysian Valuation Standards (MVS) and the Valuers, Appraisers, Estate Agents and Property Managers Act 1981 and Rules 1986.
Are valuation fees regulated in Malaysia?
Yes. Under Rule 48 and the Seventh Schedule of the Valuers, Appraisers, Estate Agents and Property Managers Rules 1986, valuation firm in Malaysia is not permitted to charge fees above the prescribed statutory scale for applicable valuation services.
How are valuation fees for land and buildings calculated?
Fees are calculated based on a percentage of the reported value using a tiered scale. The rates decrease as the property value increases, with a minimum fee of RM400. These fees exclude out-of-pocket expenses and the applicable 8% Service Tax.
What other types of valuation services have prescribed fee scales?
Other services with prescribed fee scales include land acquisition valuations, capital valuations for submissions to Securities Commission Malaysia and Bank Negara Malaysia, plant and machinery valuations, rental and rating valuations, and mass valuation services for local authorities.
Are additional charges applicable beyond the standard valuation fee?
Yes. Valuation firm in Malaysia may charge for disbursements such as printing, document copies, and travel, as well as professional attendance at meetings, negotiations, and court or tribunal appearances. Retrospective valuations (dated at least five years prior) may also attract higher fees, subject to negotiation, except for land acquisition cases.
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