Edition 2020 Ninth edition
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a6048c931cdc93 TEGOVA EVS 2020 digital
9 TH EDITION — 2020 European Valuation Standards 2020 Contents 3 CONTENTS Preface 11 Introduction 15 Members of the European Valuation Standards Board, Secretariat 17 Acknowledgements 19 I. European Valuation Standards and Guidance Notes 21 I.A. European Valuation Standards 23 EVS 1 Market Value 27 1. Introduction 28 2. Scope 28 3. European Valuation Standard 1 — Definition of Market Value 29 4. Commentary 30 EVS 2 Valuation Bases Other than Market Value 43 1. Introduction 44 2. Scope 44 3. Basis of value 44 4. Fair Value 44 5. Special Value 46 6. Investment Value 47 7. Mortgage Lending Value 49 8. Insurable Value 50 9. Value for local and national taxation purposes 51 10. Values for compulsory purchase and/or compensation 51 4 Contents European Valuation Standards 2020 EVS 3 The Qualified Valuer 53 1. Introduction 54 2. Scope 54 3. General 54 4. The Qualified Valuer 55 5. Commentary 57 EVS 4 The Valuation Process 61 1. Introduction 62 2. Scope 62 3. Terms of engagement 62 4. Liaison with client's advisers, auditors and others 64 5. Commentary 64 6. Supporting the valuation 69 7. Valuation review 70 EVS 5 Reporting the Valuation 75 1. Introduction 76 2. Scope 76 3. Valuation Report — Definition 76 4. The Valuation Report 76 5. The EVS Valuation Report for Residential Property 78 ANNEX EVS Valuation Report for Residential Property 81 EVS 6 Valuation and Energy Efficiency 91 1. Introduction 92 2. Scope 93 3. European Valuation Standard 6 — Valuation and Energy Efficiency 94 4. Commentary 94 ANNEX Examples of automatic renovation obligations 97 European Valuation Standards 2020 Contents 5 I.B. European Valuation Guidance Notes 103 EVGN 1 Portfolio Valuation 103 1. A portfolio valuation 104 2. Undertaking a portfolio valuation 105 3. The result 107 4. Values of the component properties 108 5. Reporting the Fair Value of a portfolio for accounts 108 EVGN 2 Fair Value for Financial Reporting 111 1. Introduction 112 2. Scope 112 3. IFRS 13 Fair Value Measurement 113 4. IFRS 13 Definition of Highest and Best Use 113 5. Fair Value hierarchy 115 6. The role of the valuer in determining Fair Value hierarchy 118 7. Valuation methods 118 8. Fair Value compared with Market Value 120 EVGN 3 Valuation for Insurance Purposes 123 1. Introduction 124 2. Scope 125 3. Definitions 125 4. The assessment 127 5. Reporting 129 6. Special provisions and recommendations for damage assessment 130 EVGN 4 Apportionment of Value between Land and Buildings 133 1. Introduction 134 2. Scope 134 3. Definitions 135 4. Commentary 137 5. Apportionment in practice 139 6. Apportionment between components of buildings under IFRS accounting standards 142 6 Contents European Valuation Standards 2020 II. Valuation Methodology 147 1. Introduction 150 2. Scope 151 3. Definitions 151 4. Valuation approaches 151 5. General observations 152 6. The Comparative Method 154 7. The Income Approach, methods and models 156 8. The Cost Approach 168 9. The Residual Method 186 10. Using more than one valuation method 187 11. The final check 188 III. Valuation and Sustainability 191 1. Introduction 194 2. Sustainability 197 3. Sustainability and property users 200 4. Developing "green" standards for property 207 5. Valuation and sustainability 214 IV. European Valuation Information Papers 223 EVIP 1 The Impact of the Energy Performance of Buildings Directive on Property Valuation 225 1. Introduction 226 2. Scope 226 3. Definitions 226 4. Commentary 227 European Valuation Standards 2020 Contents 7 EVIP 2 Valuation and Other Issues for Recurrent Property Taxation 237 1. The European Semester and recurrent property taxation 240 2. Defining the properties 241 3. Valuation 241 4. Maintaining the valuation register 246 5. Revaluation 246 6. Challenges, disputes and appeals 249 7. Applying the tax 250 8. Exemptions and reliefs 250 9. Higher or additional charges 252 EVIP 3 Multiple Interests in Residential Property 255 1. Introduction 256 2. Valuation 257 3. Multiple ownerships 257 4. Tenancies and other rights 260 5. Residential caravan parks 267 6. Inalienable and unassignable property 267 EVIP 4 Listed Residential Property (property protected by law) 271 1. Introduction 272 2. Scope 272 3. Terminology 272 4. Guidance 273 5. Valuation 274 EVIP 5 Residential Tenancies and Rent Control 279 EVIP 6 Residential Valuations and Equity Release 283 8 Contents European Valuation Standards 2020 EVIP 7 Advanced Statistical Models 287 1. Definition 289 2. Introduction 289 3. Commentary 291 4. European Banking Authority criteria for advanced statistical models for valuation and EVS commentary 292 Download 1.74 Mb. Do'stlaringiz bilan baham: |
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