Document downloads - Commercial property: investment valuations
Available downloads
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DCF calculation example
Calculation of worth by discounted cash flow - this calculation relates to commercial property investment valuations.
More detail can be found on the DCF valuation page at http://isurv.com/site/scripts/documents_info.aspx?categoryID=1160&documentID=4804&pageNumber=15 -
User guide: reflecting uncertainty in valuations
Published June 2011
This guide is prepared for the benefit of valuers and other users of valuations to provide a general understanding of the concept of uncertainty and the methods by which uncertainty, in valuations for investment purposes, may be identified and communicated with clarity.
It is not intended to provide training in valuation techniques but rather to give valuation surveyors, and other users of valuations, a general understanding of the matters that need to be taken into account.
Uncertainty is a feature of investment in real estate regardless of geographical location. Although this guide has been written from a UK perspective, with examples based on UK investments, the fundamental principles are universal. Uncertainty as a concept does not vary and this guide can be applied to investment properties in all markets around the world. -
Comparable evidence in property valuation (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Covering most types of real estate asset, this information paper discusses the use of comparable evidence in property valuation and aims to outline the principles of comparable evidence use, encourage consistency in its application worldwide, address issues of availability and the use of comparable evidence under challenging market conditions and consider the potential sources of comparable evidence.
This information paper also discusses the use of comparable evidence in different circumstances and markets, whether volatile or inactive, as well as in developing markets, where comparable evidence is often more difficult to obtain and less familiar to valuers.
Although applicable to land and buildings used for commercial, industrial, residential, agricultural and associated purposes, this publication does not cover the use of comparable evidence in the valuation of plant and equipment. Business assets or personal property are also outside the scope of this information paper, however, many of the principles described may be relevant to these types of asset. -
RICS Valuation – Global Standards 2017 (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The RICS Valuation – Global Standards 2017 took effect from 1 July 2017, the same date as the IVS 2017.
The accompanying Basis for Conclusions explains the rationale behind the more significant changes made in the final version of the Red Book 2017. Specifically, it addresses the main refinements made in consequence of the responses received to the public consultation. It has been produced purely to assist the reader and does not form part of the standards.
Following the publication of the new edition of IVS, an updated Red Book takes effect from 31 January 2020 in line with the IVS. -
Real estate risk management under the Alternative Investment Managers Directive (AIFMD)
The Alternative Investment Fund Managers Directive (AIFMD) has made risk management one of the fundamental functions for real estate investment funds. Given the importance of real estate for Europe’s alternative investment fund industry, RICS Europe has produced this guidance note to provide guidance to AIFMs on risk management for real estate.
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RICS Valuation – Global Standards: UK national supplement (UK Red Book)
Published: 19 October 2023
Effective from: 1 May 2024
For a number of jurisdictions RICS publishes national supplements to the Red Book Global Standards to assist members in the application of those standards in a local context.
The UK national supplement augments Red Book Global Standards for valuations that are subject to UK jurisdiction. -
RICS Valuation – Global Standards
Published 30 November 2021
Effective from 31 January 2022
The new edition of Red Book Global Standards (RICS Valuation – Global Standards) takes effect on 31 January 2022, the same date as the new edition of the International Valuation Standards (IVS).
The accompanying Basis for conclusions explains the rationale behind the more significant changes made in the new edition of Red Book Global Standards. Specifically, it addresses the main refinements made in consequence of the responses received to the public consultation. It has been produced purely to assist the reader and does not form part of the standards.
The main reason for issuing the update to Red Book Global Standards is to take account of the changes to the IVS, which Red Book Global Standards adopts and applies.