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.
Current edition
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.
Please note, RICS members and RICS regulated firms should continue to adopt this 1st edition until the final version of the 2nd edition has been published.
Published date: 09 October 2019
Consultation on 2nd edition
We want your feedback on proposed changes to the comparable evidence in real estate valuation global guidance.
The practice guidance has had small changes made throughout, but the main changes are in the below sections:
- Sustainability and ESG
- Sources of comparable evidence
- AI & AVMs
- Data protection and confidentiality
- Admissibility of post-dated evidence
It has been changed from a professional standard to best practice guidance, meaning there are requirements members 'should' carry out. See Standards document types for the document definitions.
The use of comparable evidence is becoming more complex and with the increasing availability of data, surveyors can use more sophisticated methods to analyse comparable evidence. This updated practice guidance will help surveyors ensure they are using the most up to date and effective methods to value real estate.
Visit our consultation portal to download the draft and respond, either by answering the questionnaire and/or commenting on the draft.
The consultation closes on 9 September 2026.