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European Valuation Standards 2016 Launched in Brussels

May 16, 2016

The European Valuation Conference

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TEGoVA celebrates the launching of the eighth edition of the Blue Book. TEGoVA marked this special day by several events, with the first part devoted to the European valuation conference.

The Hotel Brussels provided a fitting venue for the launch of the eighth edition of European Valuation Standards (EVS 2016). The launch was witnessed by a full house of valuers from across Europe. The leaders of the USA's Appraisal Institute, the Appraisal Institute of Canada and UniĂłn Panamericana de Asociaciones de ValuaciĂłn were also in attendance. In his introductory speech Krzysztof Grzesik REV, Chairman TEGoVA said that the event marked the day when TEGoVA has come of age and ."Gone are the days when we had to explain the reason for our existence, gone are the days when we had to explain the need for European Valuation Standards"

The keynote speakers at the launch were Andrzej Reich, Director at the Polish Financial Supervision Authority and one of the six elected Members of the Management Board of the European Banking Authority (EBA) and Michael MacBrien, Director General of the European Property Federation and Advisor to TEGoVA.

A presentation of the content of EVS 2016 was delivered by John Hockey REV and Jeremy Moody Hon REV, the Chairman and Vice Chairman of the European Valuation Standards Board respectively. As explained by John Hockey "Feedback from a wide variety of stakeholders has confirmed that EVS should remain clearly focused on real estate, provide additional guidance and technical information to meet the diverse needs of the 63 TEGoVA Member Associations and continue to concentrate on high level principles. In meeting these objectives EVS 2016 follows the direction of previous editions, being informed by existing and emerging European regulation, acknowledging that EU law is the origin of an increasing amount of local property law underpinning valuation".

The General Assembly

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On 14 May, the General Assembly was attended by 90 delegates from 24 countries. Highlights:

• Confédération des Experts Fonciers (CEF) from France was admitted as Awarding Member Association (AMA), bringing the number of AMAs to 30 associations.

• Confédération des Experts Fonciers (CEF) and Conseil Supérieur du Notariat (CSN) from France were admitted as Residential Awarding Member Association (R-AMAs), bringing the number of AMAs to 5 associations.

• Krzysztof Grzesik REV, Chairman of the Board presented TEGoVA's Action Plan for the future.

• Unanimous approval of TEGoVA membership for Compagnie Nationale Des Experts Immobiliers (CNEI) from France, bringing TEGoVA membership to 61 member associations from 33 countries.

• Five presentations:

- Adrian Vascu REV, Member of the Board of ANEVAR, on the association in figures.

- Sebastiaan Roggeveen , Valuation Expert of NVM, on a report valuation in agrarian real estate.

- Guibert de Crombrugghe FRICS, Managing Partner of de Crombugghe & Partners, on Brussels office market.

- Luca Bartelot, Secretary General of the European Mortgage Federation, on EMF/ECBC and TEGoVA gouing forward.

- Maria Emilia Pereira Colls, President of the UniĂłn Panamerican de Associaciones de ValuaciĂłn, on UPAV and its current activities.

The Next General Assembly

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The next TEGoVA General Meeting and European Valuation Conference will be held in Ireland on October 20th, 21th and 22th. The meeting will take place in the Grand Hotel, an excellent hotel of Malahide in the countryside of Dublin.