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RICS Promotes Valuation Standards

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Europe  energy efficiency  RICS  Royal Institution of Chartered Surveyors  real estate valuations  Gordon Miller  Sustain Worldwide 

RICS Promotes Valuation Standards

By - Wednesday 19 October 2011

The Royal Institution of Chartered Surveyors (RICS) will be hosting a conference about the reliability and accuracy of real estate valuations later this month. Professionals from all over Europe will be taking part in the event on October 27th, with the organisation noting that correct valuations are "a key component at the heart of most economic activity". The aim of the meeting is to help ensure that properties are correctly assessed based on a range of factors. These include how volatility in a particular sector can affect valuations, as well as subjectivity in the process.

Last month, RICS launched a Valuer Registration Scheme in Europe with the intention of ensuring professionals meet the standards laid out by the institution. Meanwhile, Gordon Miller, co-founder and sustainability and communications director of Sustain Worldwide, recently asserted that the energy efficiency of a building should be taken into account as part of its valuation. He stressed that sustainable properties will also depreciate more slowly than their older counterparts because they will not need expensive retrofitting work to be carried out on them.

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