Along with RICS’ own requirements, RICS valuation professional standards and practice information incorporate global concepts defined in the International Valuation Standards (IVS), developed by the International Valuation Standards Council (IVSC). Together these provide an effective, regulatable framework for the delivery of valuation services to clients.
RICS sets and maintains professional valuation standards that apply to RICS members and regulated firms globally. The main global valuation standards are published in the RICS Valuation Global Standards (Red Book), which also fully incorporates IVS.
New International Valuation Standards (IVS) were published 31 January 2024. These included a revised structure and increased focus on ESG, data and valuation modelling. IVSC have given permission for RICS members to have individual access to the new IVS through our MyRICS community here. You need to be a member of the my RICS community to use this link.
RICS is updating Red Book Global Standards this year to incorporate the new IVS.
Published date: 30 July 2021
RICS Data Standard (RDS)
The schema and example data files are available in both XML and JSON formats with html documentation in separate JSON and XML directories. The current version supersedes previous RICS Data Standards for IPMS and ICMS which have both been incorporated into this single schema allowing users to capture, share and exchange data on land, property, real estate, and infrastructure assets. Where appropriate, the RDS references and supports a range of RICS and international standards covering property measurement, valuation, due diligence, life-cycle costing, carbon emissions, building operation, brokerage, leasing, and building surveying.
The RDS is available under the MIT License and RICS can provide technical support on the implementation of the RDS, for further information and support please contact datastandards@rics.org.