Valuation during the sale, purchase or leasing of real estate is a complex process where the property’s market value is shaped by a number of factors. The majority of CBRE’s valuers are experts registered with RICS, a globally-recognized organization working to implement the highest professional international standards. CBRE’s staff’s professionalism paired with outstandingly high value insurance, guarantee a reliable and well-founded valuation and ensure the protection of clients.
Enhancing the level of professionalism and transparency in the property industry is one of the missions of RICS in Hungary, who has a new composition of its board.
At the historic high level Climate Summit hosted by United Nations (UN) Secretary General Ban Ki-moon in New York on 23 September 2014, RICS committed to mobilise the profession and property sector leaders to actively support the work towards a binding climate deal at the UN’s formal negotiations under the 21st Conference of the Parties (COP21) in Paris in 2015.
The RICS Commercial Property Monitor for Q2 2014 revealed that most regional markets slowly but steadily seem to be getting out of the woods. In most Central and Eastern European markets macroeconomic challenges influence real estate sentiment, but expectations are improving with longer term outlook for capital values.
The initiative of RICS members resulted in the establishment of the Real Estate Agency and Brokerage Standards (REABS), which provides best practice guidance for real estate agents and brokers internationally. The agencies who endorse the 12 points of the codex ensure that clients receive objective advice, delivered in a professional manner that is consistent with internationally recognized standards.
The IFRS Foundation and the International Valuation Standards Council (‘IVSC’) yesterday announced a joint statement of protocols for co-operation on International Financial Reporting Standards (‘IFRS’) and International Valuation Standards (‘IVS’). Both the IVSC and the IFRS Foundation have a shared interest in the consistent measurement of fair value for financial reporting. Certain Standards issued by the IASB use fair value as a measurement basis.
A group of experts in green building, investment and finance and property valuation gathered in Brussels to mark the launch of RenoValue, a new European project aiming to further integrate the energy performance of buildings into the property valuation process.
Rent per unit (usually EUR/m2/month) and the size of leasable area (m2) are important components of lease contracts because their product equals the rent payable by the tenant. However, landlords often attempt to set a relatively low rent per unit to attract tenants while claiming the largest possible leasable area since many tenants are only concerned with the rent per unit, which is readily comparable with market rates, not paying enough attention to the size of leasable area or the method employed for its calculation.
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