Comparable evidence in real estate valuation (1st edition)

Please note, this document was reissued in April 2023 as a professional standard. It was previously published in October 2019 as a professional statement. The regulatory requirements remain the same.

This professional standard discusses the use of comparable evidence in the valuation process.

It has four main purposes:

• to outline the principles of the use of comparable evidence
  
• to encourage consistency in the use of comparable evidence globally
  
• to address issues of availability and use of comparable evidence, especially in challenging market conditions
  
• to consider potential sources of comparable evidence and their relative importance
  

The use of comparable evidence in the valuation of the principal types of real estate asset is examined. This professional standard does not discuss comparable evidence in the valuation of plant and equipment and other business assets, or personal property, but many of the principles described are also relevant to the valuation of these asset types.