Proposals for Amendments to the Law “On Appraisal Activity” Discussed at the Board Meeting of the Azerbaijan Society of Appraisers

An expanded general meeting of the Board of the Azerbaijan Society of Appraisers (ASA) has been held. During the meeting, key issues regarding the regulation of appraisal activities in the country, the expansion of international relations, the drafting of national standards, and structural reforms were discussed in detail.

Opening the session with an introductory speech, Vugar Oruc, Chairman of the ASA Board, emphasized the significance of the agenda items. He particularly highlighted the proposed amendments to the Law of the Republic of Azerbaijan “On Appraisal Activity,” which were put forward without being discussed at the general assembly of the Chamber of Appraisers.

The Board members noted that several nuances within the proposed amendments—introduced without discussion or formal approval at the general assembly comprising 102 founders and nearly 200 members of the Chamber of Appraisers—contradict free market principles and the interests of professional appraisers. The speakers strongly emphasized that such steps could impede the development of the sector and are therefore entirely unacceptable. It was stressed that the legal and institutional impacts of these proposals present serious obstacles to the growth of the industry. Furthermore, it was stated that the vast majority of the amendments currently proposed by the Chamber are aimed at monopolizing the sector, placing the appraisal system under the control of a specific group of companies through administrative leverage, and forcing independent appraisers and firms out of the market. This directly contradicts both the Constitution of the Republic of Azerbaijan and international legislation.

It was announced that official appeals will be submitted to the Presidential Administration, the Main Legislative Department of the Ministry of Justice, the Ministry of Finance, the Ministry of Economy, the National Assembly (Milli Majlis), the Chamber itself, and other relevant government bodies to protect the rights of appraisers and support the development of the sector.

Concurrently, ASA’s own alternative proposals and justifications for amendments to the law were reviewed. Consequently, a unified and decisive final position to be presented to the relevant state authorities was established.

Additionally, a concept for the formation of an alternative self-governing model within the appraisal industry was presented.

During the event, information was provided on the activities carried out within the framework of cooperation with the European Group of Valuers’ Associations (TEGoVA), along with the positive outcomes of the ASA leadership’s participation in an international meeting. The memorandum of cooperation between ASA and the Latvian Association of Property Appraisers was approved, as well as a future action plan aimed at strengthening ties with global partners.

The meeting also featured an update on the drafting process of the National Appraisal Standards. Reports on the current status of the working groups were heard, and specific tasks were assigned for the upcoming phases.

To enhance the efficiency of ASA’s operations, key personnel changes were put to a vote and unanimously approved during the session.

Accordingly, Ilham Bagirov was confirmed as Vice-Chairman of the ASA Committee on Construction, Landscaping, and Relocation; Firdovsi Khalilov as Head of the ASA Real Estate Market Analysis Department; and Samir Nasibov as the ASA Coordinator for Relations with the Banking Sector.

At the conclusion of the meeting, an exchange of views took place regarding current organizational matters, feedback and recommendations from society members were heard, and membership certificates were presented.