EVS 2020 enhances European valuation practice with:
- Greater clarity on the key concept of Market Value, compensating flaws that have crept into various language versions of EU law;
- A common European Valuation Report for Residential Property;
- Energy efficiency valuation upgraded to Standard level;
- New Guidance Notes and Information Papers on subjects of real interest to practicing valuers;
- Clarification of the role of advanced statistical models in line with the new EBA Guidelines;
- A comprehensive approach to Valuation Methodology including detailed exposition of key concepts such as income approach and depreciated replacement cost;
- A unique, landmark exposé of European Union Legislation and Property Valuation enabling practicing valuers to understand how much of the real estate regulatory environment is based on EU law, equally valuable to European and national supervisory authorities, policy makers and academics.
The Standards were designed in the belief that the valuation profession must be conscious of the real added value that quality valuation brings to markets and society and must imbue clients and public authorities with an understanding of how the valuer reached the determination of value.
It was a collective effort based on a clear concept of the needs of society and the future of the profession.