One of the important topics discussed during the Sustainable Energy Week in June 2015 was property valuation and more in particular valuing the impact of energy- and resource-efficient buildings. In this workshop experts from the valuation industry, the real estate sector, financing institutions, the construction sector and Member States were invited by the European Commission to share their experiences on how property valuation is taking energy and resource efficiency into account.
The valuation sector has a highly important role for assessing sustainability within the construction value chain. In the future the real estate market is expected to reflect energy and resource efficiency as important factors for decision making in property valuation.
Mr. Manfred Fuchs from DG GROW mentioned that a common resource efficiency framework should be defined in order to successfully realise the 2020 resource efficiency goals.
Furthermore as Mr. David Lorenz from the Karlruhe Institute of Technology explained, valuers need instant access to local market data in order to capture the value of sustainability properly. Several guidelines exist on how to reflect sustainability in valuation of buildings. However, these guidelines are of rather informative character (except those of RICS and the German valuation order), and the methodologies as stated in the guidelines are not binding.
For more information see EUSEW