Defvas Project In Partnership with TEGoVA and the IRRV AN INTRODUCTION TO THE EUROPEAN VALUATION STANDARDS

Defvas Project In Partnership with TEGoVA and the IRRV THE NEED FOR THE EUROPEAN VALUATION STANDARDS The EU has a considerable and growing influence on property EU citizens have the right to live and work anywhere in the Union There is a core common currency and an Internal Market with free circulation of capital and services guaranteeing the right to invest in property This leads to a right to offer real estate services, including valuation services, any where in the Union without obstacle

Defvas Project In Partnership with TEGoVA and the IRRV THE PURPOSE OF THE EUROPEAN VALUATION STANDARDS To assist in the preparation of coherent reports To promote consistency To enable users of valuations to understand them To provide a benchmark for the qualified valuer To increase public awareness of the role of the valuer To ensure clear and justifiable valuations To promote coherence in regulation To promote best practice

Defvas Project In Partnership with TEGoVA and the IRRV THE FIVE EUROPEAN VALUATION STANDARDS EVS1 covering market value EVS2 covering other basis of value EVS3 addressing the qualified valuer EVS4 applying to the valuation process; and EVS5 on valuation reporting

Defvas Project In Partnership with TEGoVA and the IRRV THE FIVE EUROPEAN VALUATION APPLICATIONS EVA1 valuation for the purpose of financial reporting EVA2 valuation for lending purposes EVA3 property valuation for securitisation purposes EVA4 assessment of insurable value EVA5 application of investment value (worth) for individual investors