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EUROPEAN VALUATION STANDARD 1 MARKET VALUE. Market value Value The “market value” of an asset The ultimate test for market value. Introduction. EU legislation Real estate and related property rights Marketable Marked distinction The range of assumptions. Scope. Market value means - PowerPoint PPT Presentation
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Defvas Project
In Partnership with TEGoVA and the IRRV
INTRODUCTION
• Market value
• Value
• The “market value” of an asset
• The ultimate test for market value
Defvas Project
In Partnership with TEGoVA and the IRRV
SCOPE
• EU legislation
• Real estate and related property rights
• Marketable
• Marked distinction
• The range of assumptions
Defvas Project
In Partnership with TEGoVA and the IRRV
TEGoVA’s APPROVED DEFINATION OF MARKET VALUE
• Market value means
• Directive 2006/48/EC
• Market rent
• Acted knowledgeably, prudently and without compulsion
Defvas Project
In Partnership with TEGoVA and the IRRV
DEFINITION OF MARKET VALUE IN EU AND EEA LEGISLATION
• There are several definitions of market value within
EU legislation
• The Capital Requirements Directive definition
• Articles 84 to 89 of the Directive
• State Aid Communication and the Insurance Accounts
Directive
• VAT definition
• EU accounting definition
Defvas Project
In Partnership with TEGoVA and the IRRV
COMMENTARY
• The advantage of the definition used in EVS1 over the other
available EU definitions
• The definition in EVS1
• The result
• The real property being valued
• The transaction
• The date of valuation
• The parties – hypothetical, willing and competitive
• The marketing
• The parties’ consideration of the matter
• Other matters