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.
