ABSTRACT
This chapter considers a variety of contemporary issues that impact upon the valuation process and profession. Whilst a continuing commitment to global valuation standards and the introduction of global measurement standards is supporting greater consistency, it is important to recognise that local factors, practice and procedures will be a significant element of valuations in different countries. The chapter discusses some of the factors that may require greater consideration by valuers, including the movement to more and more sustainable development, occupiers' need for more productive environments and the introduction of new property products such as co-working space. It illustrates that the valuation process has to be dynamic and respond to change in the many frameworks within which property sits. In many ways a valuer is working implicitly within a classic political, economic, social, technological, environmental and legal business environment framework. The chapter explores the lack of transparent information on total occupancy costs within the marketing of real estate.
