Abstract/Summary

This paper represents an independent review of concepts, bases and applications of real estate valuations in response to the current EU and EBA deliberations concerning a prudent property valuation approach developed by the Bank of International Settlements within its Basel III guidance. The paper has been produced in collaboration and consultation with the academic and practicing residential and commercial real estate community. The research steering group included representatives from the three main valuation international standards setters covering the globe and Europe. It also included representatives of the National Associations of Romania and Spain