Comparable evidence in real estate valuation, 1st edition, RICS professional standard (April 2023)
Published October 2019
Effective from 9 October 2019
Reissued April 2023
This professional standard discusses the use of comparable evidence in the valuation process.
It has four main purposes:
- to outline the principles of the use of comparable evidence
- to encourage consistency in the use of comparable evidence globally
- to address issues of availability and use of comparable evidence, especially in challenging market conditions and
- to consider potential sources of comparable evidence and their relative importance
The use of comparable evidence in the valuation of the principal types of real estate asset is examined. This professional standard does not discuss comparable evidence in the valuation of plant and equipment and other business assets, or personal property, but many of the principles described are also relevant to the valuation of these asset types.
This document was reissued in April 2023 as a professional standard. It had previously been published in October 2019 as a guidance note. No material changes have been made to the document.
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