Valuation practice alert - COVID-19

Updated 14 September 2020

This update contains the following changes:

• Suggested amendments to market conditions explanatory note and material uncertainty declaration wording for the valuation of single assets, portfolios or groups of properties.
• A revised practice alert supplement including further details on the above and examples.

The supplement to this global practice alert is available to download below. RICS regulated members are advised to read this in conjunction with this practice alert.

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RICS Valuation Practice Alert - Coronavirus

The effects of the COVID - 19 Virus will affect the work carried out by RICS Regulated Members* in a variety of ways, with varying impacts. The exact consequences of the COVID -19 outbreak are unknown but inspecting property may be difficult either through their Firm’s own internal procedures, Government imposed restrictions or unwillingness of occupants to grant access. Access to evidential data such as comparables may also be less freely available.

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