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.
Find out more on the RICS website.