TEGOVA launches European Valuation Standards 2025 in lock-step with EU law

TEGOVA launches European Valuation Standards 2025 in lock-step with EU law   

The National Association of Valuers of Serbia, a member of the European organization TEGOVA since 2011 and the only authorized for translating European valuation standards, announces the release of the new European Valuation Standards for Real Estate (EVS 2025), which are aligned with EU regulations. 

Krzysztof Grzesik, Chairman of TEGOVA and Cédric Perrière, Chairman of the European Valuation Standards Board, said:

“Profound EU-led mutations since the 2020 edition explain the many new aspects of EVS 2025:

  • EVS 6 Valuation and Energy Efficiency now sets out in detail the methodology the valuer must follow to determine Market Value in an EU-legislated context of rapid mandatory renovation of the worst performing building stock. The essentially residual approach adopted has also been enhanced by a review of the residual methods in Part II Methodology.
  • The revised Capital Requirements Regulation’s valuation provisions – including a new ‘property value’ comprising ‘prudently conservative valuation criteria’ – are treated in depth in European Valuation Guidance Note (EVGN) 2 on Valuation for Mortgage Lending, a key tool for combining Market Value and ‘property value’ in the appraisal of mortgage collateral.
  • A new Guidance Note (EVGN 4) on Valuation of Agricultural Property covers all aspects including climate change and technology and data.
  • Part VI Valuation and Sustainability has undergone an in-depth revision and expansion to take account of the vast changes brought to land and buildings by the European Green Deal.
  • Part X European Union Legislation and Property Valuation covers the extremely rich legislative production since the last edition.

The Minimum Educational Requirements (Part IV) have been modernised and the entire Blue Book has been reviewed to enhance its use as an essential and didactic practice tool that is also intelligible to clients and the authorities. A highlight of this effort is the complementing of the very successful EVS Valuation Report for Residential Property with template reports for office property (EVGN 3. II) and agriculture (Annex to EVGN 4).”

European Valuation Standards 2025 at: www.tegova.org

The European Group of Valuers’ Associations (TEGOVA) unites 74 national valuers’ associations from 38 countries representing 70 000 qualified valuers either self-employed or employed by specialist consultancies, private sector companies, government departments or financial institutions both local and international. Its European Valuation Standards (EVS) are cited as reliable standards for the valuation of residential immovable property for mortgage lending purposes in the EU Mortgage Credit Directive and have been given precedence over all other standards by the European Central Bank in successive editions of its Asset Quality Review manual for the updating of banks’ real estate collateral values.

Warsaw General Assembly

AN EVENTFUL TEGOVA SPRING MEETING, WARSAW 15/17 June 2023

Read more at:

https://tegova.org/news/warsaw-general-assembly

TEGOVA journal

TEGOVA published the July issue of European Valuer that can be accessed on the TEGOVA European Valuer home page, in desktop and mobile formats.

European Valuation Conference “Statistical Methods of Property Valuation – Are They Legal”

27 February, Radison Blu Centrum Hotel, Warsaw

The exclusive use of statistical methods of valuation, including Automated Valuation Models (AVM), in the process of mortgage loan initiation and in the event of aa subsequent valuation review is contrary to European (and therefore Polish) law. Top speakers from Poland and abroad will explain why this is so and to what extent statistics and AVMs may be used in property valuation and market analysis.

http://www.tegova.org/en/p591d5874daa57

NEW EUROPEAN VALUATION STANDARD AND GUIDANCE NOTE ON AVMS

IMPORTANT

On 28 October 2017 in Marseille, the TEGoVA General Assembly, by near-unanimity, approved the attached European Valuation Standard EVS 6 “Automated Valuation Models (AVMs)” and European Valuation Guidance Note EVGN 11 “The Valuer’s Use of Statistical Tools” and rendered them immediately operational. They are now an integral part of European Valuation Standards and are to be complied with by all members of TEGoVA’s 71 member associations including all REVs and TRVs.

http://www.tegova.org/en/p59fb303d23a0a

TEGoVA General Assembly Endorses New European Valuation Standard (EVS 6) on Automated Valuation Models

95 delegates representing 52 valuers’ associations from 29 countries attended the Autumn meeting of TEGoVA in Marseille on 27-28 October. The meeting was hosted by Chambre des Experts Immobiliers de France (CEIF-FNAIM)

http://www.tegova.org/en/p561f9f4504887

REVASE: Resources for European Valuation Standards in Europe

the project will provide participants with the knowledge and understanding of the application of European Valuation Standards which will improve their skills and competence.

http://www.tegova.org/en/p59e0a67c9eb7e

The Accuracy of Automated Valuation Models (AVMs)

A report for TEGoVA by Professor George Matysiak

At a time when the valuation profession is urging the European Commission to investigate a Dutch decree allowing AVMs to be used without any valuer involvement for first-time valuations of homes serving as mortgage collateral, the Matysiak report is especially relevant, because it serves to highlight a contrario just how uniquely dangerous such practice is.

http://www.tegova.org/en/p595cdda3851be

NAVS offer warm welcome to valuers from Europe and beyond

Who would have ever imagined that it would be possible to organise an event attracting 100 delegates and guests representing valuers associations from as many as 26 countries? Much of the credit for this success should go to the host association the National Association of Valuers of Serbia (NAVS) which attended to every organisational detail with perfection.

http://www.tegova.org/en/p4f0e8982b8730