RICS will be seeking views on a number of aspects of valuation throughout 2022, with appropriate updates to standards and guidance, targeted for 2023.

This Call for Views relates to potential updates to the UK National Supplement to the Global Red Book. The update will have two main purposes:  

1. Technical updates to all relevant sections reflecting market and other changes.  
2. Regulated purpose valuation (UK VPS 3) updates in light of the Review of Real Estate Investment Valuation

We are undertaking this Call for Views in advance of the scheduled update, in order to canvas industry stakeholder opinion on what currently works within the standards, and what may need to be updated or removed in light of the above. 

You don’t have to comment on every section, and you may only wish to respond to certain parts or just one of the thematic elements being looked at in closer focus. The thematic elements are:

• financial reporting
• public sector valuation
• residential valuation.

There is a separate section of the Call for Views looking specifically at updates relating to the Review of Real Estate Investment Valuation

Further details on individual aspects of the Call for Views are included on the consultation site, along with the opportunity to give your response on each section.

Respond Here