Edition 2020 Ninth edition

Krzysztof Grzesik REV FRICS 
Chairman of the Board of TEGOVA

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European Valuation Standards 2020
Introduction
15
INTRODUCTION
Building on the foundation of its predecessors, this ninth edition 
was designed with the particular objective of providing standards 
that are relevant and easily comprehensible to valuers, clients and 
the public authorities. All sections have been reviewed in that light, 
and all new parts passed through that filter.
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 practic-
ing 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 environ-
ment 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 determi-
nation of value.
It was a collective effort based on a clear concept of the needs of society and the future of 
the profession.
EVS 2020 is effective from 1 January 2021.