Red Book 50th Anniversary 2026

The Red Book is used internationally, by a wide variety of financial institutions, built environment, and specialist valuers such as arts and antiques.

• Real estate and built environment – including residentials, commercial property, leisure, mixed-use developments, healthcare, education, student accommodation, operational properties such as power stations and airports.
• Land and rural – development land, agricultural land and estates, forestry, mineral and waste interests.
• Financial and statutory – financial reporting, secured lending, investment valuation, taxation (e.g. probate), litigation and dispute resolution, compulsory purchase.
• Specialist and alternative assets – infrastructure assets, energy assets, trading-related properties such as pubs, petrol stations, plant, machinery and equipment, arts and antiques.

The Red Book is published every two years. Before each new edition a consultation will take place allowing users to feedback on novel areas, suggested amendments and specific clarification while aligning closely with International Valuation Standards (IVS). For instance in 2011, the edition included new guidance on valuation certainty to reflect the change in market conditions due to the credit crunch.

In 1973, a joint working party was set up by RICS and the Institute of Chartered Accountants in England and Wales to report on the valuation of property assets following the 1972/73 property boom and the subsequent collapse of the property market, which gave rise to considerable public criticism of the variety of valuation bases used and the format of reports.

In 1976, the first edition of Guidance Notes, The Valuation of Assets was published.

For a full history read more here.

For information on CPD training, toolkits, conferences and events on the Red Book and Valuation click here.

RICS has translated the Red Book Global Standards into Arabic, Dutch, French, German, Simplified Chinese and Spanish and Italian. Greek and Czech translations are underway.

You can download the Red Book in English here.

Translations can be found here.