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Bosnian & Herzegovinian Property Association 
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Branilaca Sarajeva 47
BA-71000 Sarajevo
Bosnia and Herzegovina

Tel & Fax: +387 33 222 549


President: Prof. Dr. Muharem H. Karamujić MRICS FBHPA
Vice-President: Emir Hodzić ABHPA
Secretary General: Eldar Kulović

Number of direct members: 90
Number of qualified valuers (individuals): 55
Number of valuation companies: 2

Member of TEGoVA since: May 2018
Category of membership: Associate


The Bosnian & Herzegovinian Property Association (BHPA) represents property professionals from all over Bosnia and Herzegovina, as well as international members.

Permanent Representatives to TEGoVA

Muharem H. Karamujić

Prof. Dr. Muharem H. Karamujić MRICS FBHPA


Mobile: +387 61 549 620

Emir Hodzic

Emir Hodzić ABHPA


Tel: +387 62 889 796

Brief History and Role

The Bosnian & Herzegovinian Property Association (BHPA) represents property professionals from all over Bosnia and Herzegovina, as well as international members.

BHPA is an association founded on 8th of November 2011. The first assembly was held on 28th of November 2011, and the drafting of founding documents was completed in April of 2012. The Executive Board and Steering Committee consisting of experts from different fields were formed and appointed on 27th April 2012.

The public promotion of BHPA was held on 5th of June 2012, where around 250 officials attended the educational and promotional sessions. The aforementioned officials were from the banking sector, private businesses, government, legal offices, notaries, insurance and auditing companies. The basic message delivered to the participants is that support for the standardization of property valuation in Bosnia and Herzegovinian is required.

Principal Activities

Our vision is, BHPA as the leading organization in Bosnia and Herzegovina for certification of real estate professionals.

Our mission is to manage the profession and to promote the professional services that our members provide to our clients.

Principal Areas of Policy

Property Market Valuation.


Please see chart attached.


  1. TBHPA (Trainee Member) - members who are in the process of training to become certified valuers.
  2. RBHPA (Recognized Member) - RBHPA (Recognized Member) - certified members recognized based on their experience, who:

- have not completed structured formal education in valuation (RBHPAa): or

- have completed structured formal education with an association / institution that is deemed to be of a lesser standing to the education provided by an association with AMA status, or in other specific circumstances acceptable to the association (RBHPAb).

  1. REV (Full Member with REV Status) - certified members who fully meet all educational and professional requirements and are at least locally recognized for their expertise and hold a REV certificate issued by the Association.
  2. FBHPA (Fellow Member) - full prominent (certified) members, the least regionally recognizable, who have distinguished themselves by their work on improving the profession. Among other things, the candidates must have minimum 7 years of full membership in the association or equivalent.
  3. ABHPA (Affiliate Member) - non-certified (members who cannot independently sign market valuation reports) full members.
  4. HBHPA (Honour Member) - non-certified prominent members who have made significant contribution to the promotion and work of the Association; and
  5. AcBHPA (Academic Member) - academic (non-certified) members with significant experience in teaching and research in valuation.