RICS expert discusses future of commercial property valuations
DUBAI, January 21, 2021 An independent review into the way commercial property is valued has launched a call for professionals, consumers and stakeholders to get involved – seeking views on whether updated guidance is needed. Established to maintain confidence in the valuation practices of RICS professionals, the review is seeking evidence around four principle areas that form the foundation of commercial property valuation: the methodology behind valuation, identifying risk, maintaining independence and how value is measured. Questions the review have posed include whether new, more prescriptive rules are needed and whether the existing Red Book remains the right global framework to deliver quality valuation services.