07 Oct 2020

With an estimated 70% of global wealth held in land and property assets, the standards that RICS valuers work to play a critical role in supporting markets by creating consistency and transparency.

RICS has commissioned an independent review of valuation practices to make recommendations in respect of real estate investment valuations.

The review will examine the way valuations of property assets for investment purposes are conducted and make recommendations to ensure valuation practices remain robust and fit for purpose thus underpinning the foundation for confident markets.

It will gather evidence from a range of sources on:

  • Valuation methodology;
  • Property risk analysis;
  • Independence and objectivity;
  • Measuring confidence.

AREF Members are invited to comment on the Terms of Reference. The deadline for suggestions or comments is 23rd October 2020. 

Please send comments to AREF on Info@aref.org.uk or directly to RICS on valuation_review_2020@rics.org

Find out more on the RICS website.

Author

Paul Richards

Paul Richards

Managing Director, AREF

Paul is the Managing Director of AREF.

Before joining AREF, Paul was Head of the European Real Estate Boutique within Mercer’s investment consulting business for almost 10 years, previously he was Head of Indirect Real Estate Investment and Global Managed Accounts at LaSalle Investment Management, where he was responsible for managing global portfolios of unlisted real estate funds for clients from Europe and Asia Pacific.

He has over 25 years of real estate experience in investment, corporate finance and research, and has advised investors, occupiers and venture capital companies on property portfolio strategy and on financial structuring, including PFI, senior and mezzanine debt and joint venture arrangements. His employers have included LaSalle Investment Management, Cushman & Wakefield and Henderson Investors.

Before coming into the world of real estate, Paul worked in marketing and market research. He originally studied Physiological Sciences at Lincoln College, Oxford and has a Master of Science in Real Estate from City University Business School, London, now Cass Business School.