Antananarivo, capitale de Madagascar — Cabinet d'expertise immobilière ExpertImmo
CAREA Member Accredited since 1990
Expert Accredited to the Courts and Tribunals of Madagascar — Law No. 2006-15 of 20 July 2006

Real-Estate Appraisal
Judicial & Open-Market Valuation in Madagascar

More than thirty-five years serving Malagasy justice — a CAREA member since 1990

Mr RABENIMANANA Normand — expertise serving the courts, notaries and financial institutions of Madagascar. Valuation reports carrying the evidential weight attached to an accredited expert, and compliant with CAREA's professional standards.

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Accredited to the Courts & Tribunals of Madagascar
CAREA-registered expert since 1990
Reports compliant with Malagasy credit-committee requirements
Reports enforceable against third parties

The Firm

Interior of Cabinet ExpertImmo

Founded in 1990 in Antananarivo by Mr RABENIMANANA Normand — a Building & Real-Estate Expert accredited to the Courts and Tribunals of Madagascar and a member of CAREA (Compagnie des Arbitres Rapporteurs et Experts Agréés) — the Cabinet ExpertImmo | RABENIMANANA Normand supports banks, courts, notaries and private individuals with their real-estate valuation needs.

Real-estate expertise since 1990

The firm carries out its work within the ethical framework of CAREA, under the personal responsibility of its founder. This continuity of practice brings a precise knowledge of the evolving Malagasy market and of local real-estate case law.

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    Judicial accreditation — Reports enforceable against third parties before the civil and commercial courts of Madagascar.
  • ✦
    Technical competence — 45 years of experience in general construction applied to valuation, allowing the structural reality of properties to be taken into account.
  • ✦
    Multi-approach methodology — Comparison method, income-capitalisation approach and net replacement cost, adapted to the Malagasy market.

What does a CAREA appraisal mean for you?

The reports issued by the firm comply with the code of ethics of the Compagnie des Arbitres Rapporteurs et Experts Agréés (CAREA). They carry the evidential weight attached to a CAREA-registered expert, are admissible to the credit departments of banking institutions, and are accepted by notaries as a basis for registration duties. Their effect towards third parties is assessed under the ordinary rules of law applicable to expert reports.

All engagements are conducted in accordance with the CAREA code of ethics: independence, impartiality, integrity, competence and confidentiality.

RABENIMANANA Normand — Expert en Bâtiments et Biens immobiliers Agréé CAREA depuis 1990
RABENIMANANA Normand FOUNDER
Founder of the firm since 1990.
RABENIMANANA Lalason — Web Developer, Cabinet ExpertImmo Madagascar
RABENIMANANA Lalason Chief Technology Officer LinkedIn
+35 Years
Accredited
1990
Judicial Accreditation
+1500
Appraisals Completed
CAREA
Registered Expert since 1990
100%
Compliant Reports

Our Areas of Practice

Judicial appraisal

Upon instruction from the Courts, the Courts of Appeal or the Supreme Court, the firm conducts expert investigations in real-estate disputes: inheritance partitions, divorces, property seizures, expropriations and construction litigation. The resulting reports are enforceable against third parties before the Malagasy courts.

Open-market valuation

Determination of the open-market value (market value) of built and unbuilt property: land, residential buildings, commercial premises, industrial buildings and hotel complexes. Methodologies in line with valuation standards: comparison approach, income-capitalisation approach and replacement-cost approach.

Bank valuation (mortgage guarantee)

Valuation of property pledged as mortgage collateral on behalf of Malagasy credit institutions. Preparation of an appraisal file that meets the requirements of credit committees and banking-supervision authorities.

Estate appraisal

Audit and advice on the valuation, management and transfer of institutional or family real-estate assets. Contradictory valuations for inheritances, gift-partitions and the liquidation of matrimonial property regimes.

Rental valuation

Determination of rental value for residential, commercial, industrial and office leases. Lease renewal, setting of eviction indemnities and rent reviews.

Cabinet ExpertImmo offers a complete range of real-estate appraisal services in Madagascar: judicial appraisal, open-market valuation, bank valuation (mortgage guarantee), estate appraisal and rental valuation. Every report is signed, sealed and carries the evidential weight attached to a CAREA-registered expert.

Rigorous expertise carried out in strict accordance with the CAREA code of ethics: independence, impartiality, competence and confidentiality.

Who We Serve

Expertise tailored to every institutional and private client.

Banks & Credit Institutions

Valuation prior to granting a mortgage loan, collateral appraisal during the loan term, real-estate portfolio valuation and due diligence before taking security.

Courts & Tribunals

Appointment as judicial expert in real-estate disputes: contested inheritance partitions, divorces involving real-estate assets, expropriations and construction litigation.

Notaries & Notarial Offices

Valuation for the basis of registration duties, amicable inheritance partitions, gifts and marriage contracts involving real-estate assets.

Individuals & Businesses

Purchase, sale, gift, inheritance, asset declaration, challenges to administrative valuations and pre-acquisition due diligence.

Serving Financial Institutions and the Courts

For over 35 years, the firm has supported Madagascar's judges, notaries and financial institutions with their real-estate valuation needs.

Mortgage Guarantee

Open-market valuation report prepared by the accredited expert, usually required for any property-loan file. Format compliant with bank credit-committee requirements.

Real-Estate Due Diligence

Full audit of the value and risks of a real-estate asset before acquisition. Verification of titles, easements and planning compliance.

Litigation Appraisal

Judicial appraisal whose reports carry weight before the courts. Usually requested by lawyers, bailiffs and judges in real-estate litigation.

Asset Valuation

Valuation of real-estate portfolios for accounting balance sheets, mergers and acquisitions, tenders or corporate asset disposals.

The firm's appraisal reports are prepared in line with the professional standards required by Madagascar's financial institutions and courts.

Frequently Asked Questions

Everything you need to know about real-estate appraisal in Madagascar.

An expert accredited to the Courts and Tribunals is a professional officially recognised by the Malagasy judicial system to produce valuations and expert reports carrying evidential weight in court. Mr RABENIMANANA Normand has been a CAREA member since 1990; his reports carry the evidential weight attached to that status, their effect towards third parties being assessed under the ordinary rules of law.
CAREA (Compagnie des Arbitres Rapporteurs et Experts Agréés) brings together the experts officially accredited by the Malagasy courts. Membership attests to the expert's professional competence and adherence to the body's code of ethics. Mr RABENIMANANA Normand has been a member since 1990.
For any property-loan, mortgage-guarantee or bank-financing file in Madagascar, you need an appraisal report signed by an accredited expert. The firm prepares open-market valuation reports that meet the standards of Malagasy credit institutions. Contact us via the form for a tailored fee proposal.
The open-market value of a property in Antananarivo varies according to location (Analamahitsy, Ambohijatovo, Ivandry, etc.), floor area, overall condition, type of title deed and comparable market transactions. A valuation by an accredited expert is generally required for transactions, inheritances, partitions and bank financing.
The time required depends on the complexity and location of the property. For a standard property in Antananarivo, allow roughly 5 to 15 business days from receipt of the signed engagement order and the necessary documents (title deed, plans, condition report, etc.). For judicial appraisals, the timeframe is set by the court's order.
Yes, the firm operates across Madagascar — Toamasina, Fianarantsoa, Mahajanga, Toliara, Antsiranana and rural areas. Travel expenses are quoted and submitted for approval before any engagement, in accordance with our fee agreement.

Resources

Practical guides written by Mr RABENIMANANA Normand, CAREA-accredited expert since 1990.

📖 Browse the real-estate appraisal Glossary

Contact Us

Request an Appointment

A confidential discussion about your real-estate appraisal matter.

Registered Office Lot 94 Analamahitsy, Antananarivo, Madagascar

Cabinet ExpertImmo, founded by RABENIMANANA Normand, Building & Real-Estate Expert accredited to the Courts and Tribunals of Madagascar – CAREA member since 1990.

All information submitted is covered by professional confidentiality.
Every request is reviewed subject to the recusal and conflict-of-interest rules applicable to CAREA-accredited experts.