ABSTRACT
These accounts of national valuation processes, although they can convey little more than the tip of the valuation iceberg, clearly show that these geographically close countries, sharing a Western European cultural heritage, have developed valuation processes in response to common needs which, although similar in many ways, still display diversity in methods, definitions and sophistication. In many instances methods and ideas which appear to be common hide significant differences in interpretation and implementation. This chapter therefore attempts to highlight some common themes and to explore the differences which they mask. Most obvious among them are shared definitions of value and methods for arriving at them, particularly the strong underlying ideas of exchange price, comparative valuation methods and replacement cost. Many contributors dwell on the response of the profession to the recent market crisis and its desire for enhanced credibility. There are widespread moves towards codification of definitions, methods and best practice involving both professional organizations, educational provision and government regulation. These run parallel to increasing awareness of practices in other countries, through commercial networks and the influence of pan-European groups of valuers, such as TEGOVOFA and EUROVAL, as well as pressure from international clients. These themes are now considered in more detail.
