British valuations 'most accurate'
Wednesday, 5th November 2008

Commercial property valuations in the UK are the most accurate of the four largest the four largest what? in Europe, it has been revealed. claimed

A study by the Royal Institution of Chartered Surveyors (Rics) found that the majority of sale prices fell within ten per cent of valuations in 2007 and 84.5 per cent were sold for prices inside a 20 per cent margin of the prediction.

The study added thatcomma comparatively, the Netherlands was the most accurate after the UK with 50 per cent of properties hitting the ten per cent boundary, followed by Germany at 47.6 per cent and France at 40.2 per cent.

Commenting on the results, Rics spokesman Luay Al-Khatib said that "it is more important than ever that investors have faith in their valuations, and this report demonstrates that the robust standards RICS has in place are translating into accurate valuations".

Earlier this week, Rics stated the recession was affecting the demand for commercial property, with interest dropping at its fastest pace in a decade during the third-quarter.