The RICS Valuation Global Standards governing professional valuation practice.
Related terms
- Residual land value
GDV less all development costs and required profit; what a developer can afford to pay for land.
- Reversionary potential
The scope for future income growth in an interest that is currently under-rented, where rent can rise to market level at the next review or lease event.
- Special assumption
A valuation assumption that differs from the facts existing at the valuation date, such as assuming planning consent is granted or a lease is surrendered; it m…
- Term and reversion
A valuation method splitting current (term) income from future (reversionary) income.
- Vacant possession value
The value of a property assuming it is sold with no tenant in occupation, giving the buyer immediate use; often differs sharply from the investment value of th…
- Valuation date
The specific date to which a valuation applies, since values change over time.
- Yield gap
The difference between property yields and the yield on risk-free assets such as government bonds, used to gauge whether property is attractively priced relati…
- All-risks yield
The single capitalisation rate that reflects all the risks and growth prospects of an asset.