Sustainability will have “revolutionary impact on real estate valuation”

The impacts of sustainability requirements and needs on real estate appraisal were highlighted during the conference organized by the National Association of Real Estate Appraisers last Friday, in Lisbon.

Under the motto “Assessment and Sustainability – A new paradigm”, the event, which took place at the Museu do Oriente, was composed of a series of panels that focused on this issue, in particular the incorporation of the new European directives in the activity of real estate appraisal, and how sustainability will start to have a different weight in the value of real estate.

Ramiro Gomes, Chairman of the Board of ANAI, highlighted in his speech that this conference marks «the closing of the High Value – Innovation and Sustainability project. On the other hand, it also hopes to mark the beginning of a new cycle for the real estate appraisal sector in Portugal, for companies and their professionals. A new cycle in which the importance of this sector is recognized both for the stability of the financial system, but also its relevance to the value chain of the construction and real estate sector».

The official believes that «the sector and its professionals must be able, in the face of these new requirements and expectations, to be able to determine a credible value, which can be sustained, reliable, even under dispute». And he highlights that «we are facing a great challenge, since we live in a historical period marked by uncertainty, by the high degree of mutability and difficult predictability. It is necessary to find better conditions for the sector itself and for professionals».

Speaking to VI, on the sidelines of the event, Ramiro Gomes highlighted that the topics addressed «are transversal, they contribute to standardization and homogenization of assessments, and the issue of sustainability is very important».

Expressing his satisfaction with the conference, he highlighted the positive feedback that was being felt, and believes that the debates “filled a void that existed until now. We created a program to meet the needs of experts, namely in the area of ​​sustainability, and we are happy with the result, we even had to deny access to many others who were interested in participating. It was worth the effort.”

For his part, Krzystof Grzesik, President of TEGOVA – The European Group of Valuers' Associations, highlighted that “the new European regulations will have a revolutionary impact on real estate valuation”, at a time when “only now, finally, is the European Union legislating to the energy performance of buildings. In the coming years, we will have to renovate our buildings and improve them to have a minimum energy class. This basically means that many buildings cannot be sold or leased if they do not improve their energy efficiency. Of course, we still need to know more details, but until now, we have never had such complete legislation, and it will really impact the work of real estate appraisal».

He adds that «the conference was very well organised, it was a great achievement to attract representatives of all the main associations of the sector from different parts of the world».



Source: Real Estate