The International Valuation Standards Council has released a discussion paper seeking views on the need for improved standards for valuation of investment property.
In many countries property has long been a popular investment, the London-based IVSC noted, and the rapid growth of cities in the emerging markets is creating a stream of new opportunities for both domestic and international investors. In the more mature markets, alternatives to direct investment in the sector, such as derivatives based on movements in investment property indices, are becoming increasingly popular as the market seeks ways of improving the liquidity of investments in the sector. However, this increasingly global focus is exposing inconsistency in the valuation approaches adopted in different parts of the world.
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