Abstract
The International Property Measurement Standards (IPMS) became mandatory on 1 January 2016. The standards concern the measurement of office accommodation and will be followed over the coming years with changes to how Real Estate professionals undertake measurement of all commercial property.
The new standards bring significant changes in the way office accommodation is measured, especially compared to the former Code of Measuring Practice (COMP) and will result in area differences, which will impact on professionals and clients alike.
Although met with some resistance by professionals the RICS understand that there will be a period of transition for both surveyors and their clients alike. They are fully aware of the impact of the changes in terms of area differences and subsequently values. It has therefore become important that students are fully aware of both standards of measurement in order that they fully understand the implications and are ready for employment.
The new standards bring significant changes in the way office accommodation is measured, especially compared to the former Code of Measuring Practice (COMP) and will result in area differences, which will impact on professionals and clients alike.
Although met with some resistance by professionals the RICS understand that there will be a period of transition for both surveyors and their clients alike. They are fully aware of the impact of the changes in terms of area differences and subsequently values. It has therefore become important that students are fully aware of both standards of measurement in order that they fully understand the implications and are ready for employment.
Original language | English |
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Publication status | Published - Sept 2016 |
Event | Innovations in Built Environment Education - Liverpool John Moores University, Liverpool, United Kingdom Duration: 8 Sept 2016 → 9 Sept 2016 |
Conference
Conference | Innovations in Built Environment Education |
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Abbreviated title | IBEE 2016 |
Country/Territory | United Kingdom |
City | Liverpool |
Period | 8/09/16 → 9/09/16 |