Valuation - the estimating of value of real estate by valuers and
appraisers for various purposes, including e.g. market value, property
taxation, eminent domain, claims of damage or impact on value by some cause
or event and acquisitions for public use or public policy;
Investment in Real Estate and Investment Planning;
Real Estate Investment Vehicles;
Real Estate Finance, Development Finance, Land Use Feasibility Planning
Real Estate Economics, Real Estate Markets and Market Analyses
Management of Property, as single asset or by management companies
Management of Property Systems to ensure efficient use of public and
private resources
Management of Public Sector Property.
Mission statement
The real estate markets have been expanding and globalizing rapidly and the
development is continuing. This means that there is a strongly growing need for
uniform practices in real estate economics. International actors need reports,
analyses and services made in consistent bases but also in innovative ways,
which give added value to the clients in the expanding real estate markets.
Standards, information and guidance for best practices together with
harmonisation are asked in addition to people with good knowledge and know-how
of different systems around the world. Surveyors are strongly involved in the
international and local real estate markets thanks to the education of surveyors
that gives a very good basis in real estate in many countries. In addition
surveyors are taking care of basic registers and operations in real estate
although mainly from the point of view of the public sector. FIG Commission 9
takes care that the knowledge of surveyors will cover the whole field of real
estate economics contributing in that way positively to the national and global
economy and to the living conditions and quality of living of human people on
the whole globe.
General
In the period 2006-2010 the focus of Commission 9 will be:
Establish for all parties interested in real estate economics, such as
valuers, real estate analysts, real estate economists, real estate managers
etc. a place to discuss and exchange information about real estate and to
learn new methods and ideas.
Develop methods and guidance for real estate analyses and valuation, and
best practices on the global level.
Enhance the research on real estate by providing an arena to present
academic research results or test different plans, ideas or models.
Create and activate contact networks with different real estate
organisations and universities.
The specific focus areas and tasks of the working groups will be
identified more closely below.
Working Group 9.1 - Compulsory Purchase and Compensations in
Land Acquisition and Takings
Policy Issues
The ownership on real property is protected by constitution in most
countries. Because of the nature of the real property the right of ownership
can, however, not be unlimited but for the society it has been reserved a right
to interfere in it when it is necessary. For example, if the society needs a
land area of a real property for a street, the owner has to convey land for that
purpose, if not voluntary then by compulsion. For this interference there are
normally strict preconditions in order to protect the functions of the free
market. The most critical point concerning expropriation may be the question of
compensation. Will the compensation statutes, valuation methods and manners
really lead to full and just compensation? The rules for compensation depend on
the legislation of each country. The main idea in most countries seems to be
that the landowner?s financial situation shall remain the same despite the
expropriation. No one should be poorer because of expropriation but also not
richer. Only economic values will be compensated but non-economic not. There are
no strict rules that the owner has to be able to purchase a similar property for
the same price as compensated although the basic idea of compensation strives to
this, and normally this can even be expected. But if that cannot be done would
it lead in some cases to an unjust situation where the landowner might even
loose his/her living possibilities? It seems that there are also many countries
where the rules or practices in compulsory purchase and compensations are still
weak and the know-how narrow. Support to knowledge in land acquisition,
compulsory purchase and compensation is needed. New perspectives and a broader
discussion could add to drivers for further development. This subject is not
covered by valuation standards so there is need for guidance from FIG. It can
contribute in developing and providing the capacity needed.
Chair
Prof. Kauko Viitanen
HUT
Finland
E-mail:
kauko.viitanen[at]tkk.fi
Co-Chairs
Prof. Thomas Kalbro (Sweden), e-mail
kalbro[at]infra.kth.se
Mr. Henning Elmstrom (Denmark), e-mail:
elmstroem[at]plf.dk
FAO (SDAA) Mr. Paul Munro-Faure, email: Paul.MunroFaure[at]fao.org
Specific Projects
Identify the legal structures and practices in compulsory purchase and
compensation in different countries.
Will the compensation statutes, valuation methods and manners lead to full
and just compensation or are there shortcomings?
Find possible and effective solutions to solve the problems especially for
developing countries. What are the good ways to act and what principles,
such as equality, you should take into to consideration, and on the other
hat what are the bad examples that should be avoided?
Give FIG recommendations for best practises and education in compulsory
purchase and compensations in land acquisition and takings.
The WG will be a joint WG with Com 9, 8 and 7. The WG will work in close
co-operation with UN-FAO.
Workshops
A seminar to tap the potential for relevant exchange of experience between
countries and regions will be organised in Helsinki, Finland in September 6th to
8th, 2007 together with the Baltic Valuation Conference. Real-life experience
will be added to thematic analysis. Interaction between different groups of
(also new) actors will be promoted both during the preparations and by the
design of the seminar itself.
In addition the subject will be discussed in each annual meeting.
Publications
Technical papers presented in annual meetings
Report on results of work group investigations and reports at Congress
2006.
Timetable
2006-09: research papers for Technical Sessions.
2007: Report from the Helsinki seminar, September 6th to 8th, 2007
2010: Final Report and Recommendation for Best Practice at FIG Congress.
Beneficiaries
All FIG member organizations, UN, other professional international and
national organizations, agencies and governments.
Working Group 9.2 - Improving Slum Conditions through Innovative
Financing
Policy Issues
Slum is a major challenge for our joint development. Cities are the engines
for development and viable cities for the rich must also be cities for the poor.
Sustainable cities are a prerequisite for development on the whole - not only
for poor countries or poor people. Problems that follow a rapid urbanisation
make cities increasingly subject to dramatic crisis, - problems like
unemployment, deterioration of existing infrastructure, environmental
degradation and inadequate shelter. One out of six world inhabitants live in
slums. Without concerted action by governments and their partners, today?s
almost 1 billion slum dwellers will be 2 billions by 2030
Support to slum upgrading has focused on improved access to land,
construction economics and providing basic services. Structural issues of
financing and market conditions have often been overlooked. A change is urgent!
Providing efficient financing facilities for slum upgrading and basic
infrastructure on a massive scale will be required to meet the Millennium
Development Goals.
The first UN-Habitat global assessment in housing finance conditions and
trends of the world shows that a quite limited group of experts is involved
today. New perspectives and a broader discussion could add to drivers for
further development. The scope and actors need broadening from ?just? a
donor-poor peoples concern.
Economic development depends on efficacy of financial systems. A window of
opportunity exists in creating a sound and sustainable market for low-income
housing. FIG can contribute in developing and providing the capacity needed.
Chair
Mr. Bengt Kjellson
Sweden
E-mail:
bengt.kjellson[at]lm.se
Co-Chair
Ms. Ann Jennervik
Sweden
E-mail:
annjennervik[at]hotmail.com
Working Group
FIG
Chryssy Potsiou, Comm 3, chryssyp[at]survey.ntua.gr
Tommy Osterberg, Comm 7, tommy.osterberg[at]lm.se
Diane Dumashie, Comm 8, ddd[at]dumashie.co.uk
Kauko Viitanen, Comm 9, kauko.viitanen[at]tkk.fi
Steven Nystrom, Comm 9,
Nystrom[at]NewStreamCompanies.com
Andrew W Morley, Comm 10,
andrew.morley[at]ccmassociates.com
UN-Habitat
Szilard Fricska, Szilard.Fricska[at]unhabitat.org
Lincoln Institute (not yet confirmed)
Martim Smolka
Key Themes
Two key themes have been selected:
Securing tenure as the key to efficient finance and housing
Functioning financial markets for housing finance
and specially the link between the two.
The first phase (Nov-early Dec) of the working group activities will include:
Selection of 4-5 core issues under each theme, where thematic studies,
crosscheck surveys and policy oriented analysis should be performed.
Inventories of earlier reports, studies with implication on the matter,
for publication at the homepage.
Selection of persons and organisations that should be invited to the
dialogue in Hong-Kong and the Stockholm seminar.
The WG will work in close co-operation with UN-Habitat and the results will
be presented also in a joint seminar with UN-Habitat, perhaps in connection to
the WUF conference in China 2008. Marketing has been started already in WUF3 in
Vancouver 2006.
Workshops
A seminar to tap the potential for relevant exchange of experience between
countries and regions is being planned for the FIG working week in Stockholm
June 2008. Real-life experience will be added on to by well-prepared future
oriented crosscheck surveys and thematic analysis. Interaction between different
groups of (also new) actors will be ? fostered ? both during the preparations
and by the design of the seminar itself. The results will also be presented in
WUF conferences in China 2008. I addition the subject will be discussed in each
annual meeting.
A Dialogue is being planned for the FIG working week in Hong Kong May 2007,
to present and discuss the main current obstacles and preliminary hypothesis on
the way forward.
Publications
Technical papers presented in annual meetings.
Report on results at WUF Congress in China in 2008.
Timetable
2006-2008: research papers for Technical Sessions.
2010: Final Report at FIG Congress.
Beneficiaries
All FIG member organizations, UN, other professional international and
national organizations, agencies and governments.
Working Group 9.3 - Diagnostic Tools and Prescriptive Practices
for The Valuation Profession
Policy Issues
The valuation profession in many countries is still rather weak and the
profession has not always benefited from good education in valuation technology
and theory. Consistent and logical guidelines are poor or even missing in some
markets. There are no current tool sets to determine prescriptive practices for
these poorly functioning valuation systems. What is needed is a systemized way
to evaluate the status of a country's valuation profession and then
recommendations to bring the profession up to international standards, relative
to their individual needs. This is particularly important in developing
economies.
Chair
Mr. Steven Nystrom
USA
E-mail:
nystrom[at]tampabay.rr.com
Specific Projects
Identify the legal structures and practices in the valuation profession in
different countries / markets.
Create a tool for diagnostic analyses of the valuation profession in these
diverse markets.
Create a system for recommendation to bring the profession up to the
international standards, relative to the needs of the individual country /
market.
Give FIG recommendations for Guidelines, which can then be a starting
point to assess an individual country / market?s needs for record keeping,
GIS, and mapping solutions.
Workshops
A seminar to discuss and develop the tool and exchange of experience between
countries and regions. Interaction between different actors will be strongly
encouraged, both during the preparations and by the design of the seminar
itself, so that the tools designed will be adequate to assess most markets. I
addition the subject and evolving tool set will be assessed in each annual
meeting.
Publications
FIG Guidelines
Short article in journal including the basic diagnostic tool
Timetable
2006 Phase 1: Discuss basic topic and key aspects to be expanded upon.
2007 Phase 2: Investigations and concepts reported at FIG 2007
2008 Phase 3: First Draft of Systematic Diagnostic Tool at FIG 2008
Meeting, call for comments
2009 Phase 4: Second Draft of Systematic Diagnostic Tool at FIG 2009
Meeting, final comments
2010 Phase 5: Final Report and submission of Diagnostic Tool and
Guidelines for Diagnoses at FIG Congress 2010
Beneficiaries
All FIG member organizations, UN, other professional international and
national organizations, agencies and governments.
Working Group 9.4 - Review of Valuation Methods and Standards
Worldwide
Policy Issues
Changes in valuation methods and standards, globalisation.
Chair
Mr. David Smejkal Czech Republic
E-mail: David.Smejkal[at]a-consultplus.cz
Specific Projects
Identify the used standards in different markets and study the valuation
methodologies adopted
Present and discuss the findings at FIG Working Weeks and Congress with
information posted on the web-site for reference of members.
Workshops
To be planned for each annual meeting.
Publications
Technical papers presented in annual meetings
Report on results of work group investigations and reports at Congress
2010.
Timetable
2007-09: research papers for Technical Sessions.
2010: Final Report at FIG Congress.
Beneficiaries
All FIG member organizations, UN, other professional international and
national organizations, agencies and governments.
Working Group 9.5 - GIS-analyses in Real Estate Market Analyses
and Valuation
Policy Issues
The world is digitalising very fast. Also in valuation and real estate
analyses the digital methods are gaining a footing. Spatial data is nowadays
mainly digitalised, and automated valuation models (AVM) are used especially in
mass appraisals. The valuers and real estate analysts have to adopt the use of
digital tools and methods to be able to serve their client even in the future.
Otherwise there is a threat to become a bystander or an assistant when other
expert groups expand their scope. The idea for the WG is especially to get
discussions about the new developing digital methods in valuation and real
estate market analyses in FIG. Participants will get information of new ways to
do analyses, get new ideas and test old ones. In addition people will
participate much eager when they feel they really can learn something new in the
FIG working weeks and conferences.
Chair
Mr. Dieter Kertscher
GERMANY
E-mail:
dieter.kertscher[at]gll-bs.niedersachsen.de
Co-Chair
Mr. Steven Nystrom (USA),
E-mail:
nystrom[at]tampabay.rr.com
Specific Projects
Identify the effects and possibilities of digitalisation for of the
profession in real estate markets.
Study new ways to make real estate market analyses and valuations.
Present and discuss the findings and methods at FIG Working Weeks and
Congress.
The WG will be a joint WG with Commission 3.
Workshops
Presentations and round table discussions are to be planned for each annual
meeting. A possibility for a special seminar will be studied.
Publications
Technical papers presented in annual meetings
Report on results of work group investigations at Congress 2010.
Timetable
2007-09: research papers for Technical Sessions.
2010: Final Report at FIG Congress.
Beneficiaries
All FIG member organizations, UN, other professional international and
national organizations, agencies and governments.
Other Activities
Co-operation with Affiliate Organizations
Commission 9 will strengthen the connections with affiliate organisations
such as AI (Appraisal Institute), ARES/ERES/IRES
(American/European/International Real Estate Society), EPRA (European Public
Real Estate Association), IFMA (International Facility Management Association),
IFPH, (International Federation of Housing & Planning), INREV (European
Association for Investors in Non-listed Real Estate Vehicles), IVSC
(International Valuation Standard Committee), RICS (Royal Institute of Chartered
Surveyors), TEGoVA (The European Group of Valuers? Associations), ULI (The Urban
Land Institute), WAVO (World Association of Valuation Organisations) and other
international and/or regional associations in the field of valuation, real
estate economics and management, who are related to the activities of Commission
9.Co-operation with the United Nations Agencies
Co-operation with the United Nations Agencies
Activities of Commission 9 are related to UN-HABITAT, FAO, UN-ECE and other
professional involvements of the United Nations. Commission 9 will look into the
opportunities of participating and contributing in their events to promote the
Commission and to provide appropriate services.
There are two Task Groups of administration nature formed in addition to the
Working Groups:
Task Group 9.1 - Enhancing the adaptation of real estate valuation and
management (real estate economics) to the university education of surveyors
Policy Issues
Surveyors are traditionally well educated to basics of real estate
legislation and markets. In the present world requirements for knowledge in real
estate are expanding fast. It is not anymore possible to educate surveyors to
all traditional tasks in unified programs but the programs have to have real
options where students can really specialise in real estate economics. This is
needed in the market (thousands of new jobs) and examples of some countries show
that this kind of education is possible and also very attractive for students
and markets.
Chair
Prof. Arvo Vitikainen (Finland), e-mail
arvo.vitikainen[at]tkk.fi
Co-Chair Prof. Kauko Viitanen (Finland), e-mail
kauko.viitanen@tkk.fi
Specific Projects
Presentations and discussions in FIG working weeks and conferences
Write a report on university education in Real Estate Economics
Co-operation with other educational organisations in real estate, e.g.
ERES Education
Publications
Report on university education in Real Estate Economics.
Final report on FIG 2010 and conference proceedings
Task Group 9.2 - Organising seminar in valuation at WW in Hong Kong May 2007
Policy Issues
Valuation is in a main role at WW in Hong Kong. The main issue are the needs
in Asia and China. Joint seminar with CIREA from China and Hong Kong Appraisal
Association.
Chair
Mr. Stephen M W Yip (Hong Kong, China), e-mail:
landelit[at]netvigator.com
Specific Projects
Identify groups and organizations of valuers/appraisers world-wide and invite
them and their members to participate in FIG event and to liaise with Commission
9 officers and delegates. Preparation of the program.
Publications
Conference Proceedings
Commission Officers
Commission Chair
Prof. Kauko Viitanen
Helsinki University of Technology
Department of Surveying
P.O. Box 2000
FIN-02015 HUT
FINLAND
Tel. + 358 9 451 3870
Fax +358 9 465 077
E-mail: kauko.viitanen[at]hut.fi
Chair Elect, 2009-2010
Prof.
Frances Plimmer
Professor Frances Plimmer Dip Est Man, MPhil, PhD, FRICS, IRRV, FInstCPD,
Senior Research Officer
The College of Estate Management
Whiteknights
Reading
Berkshire RG6 6AW
UNITED KINGDOM
Tel. + 44 1189 861 101
Fax + 44 1189 7501 188
E-mail: f.a.s.plimmer[at]cem.ac.uk
or f.plimmer[at]btinternet.com
Vice-Chair of Administration
Ms. Heidi Falkenbach
Helsinki University of Technology
Department of Surveying
P.O. Box 2000
FIN-02015 HUT
FINLAND
Fax +358 9 465 077
E-mail
heidi.falkenbach[at]tkk.fi
Vice-Chair and Chair of WG 9.1 - Compulsory Purchase and Compensations in
Land Acquisition and Takings
Prof. Kauko Viitanen
Helsinki University of Technology
Department of Surveying
P.O. Box 2000
FIN-02015 HUT
FINLAND
Tel. + 358 9 451 3870
Fax +358 9 465 077
E-mail: kauko.viitanen[at]hut.fi
Vice-Chair and Chair of WG 9.2 - Improving Slum Conditions through
Innovative Financing
Mr. Bengt Kjellson Lantm?eriet
GD-stab Strategisk planering och kommunikation
SE-801 82 G?le
SWEDEN
Tel. + 46 26 634 941
E-mail: Bengt.Kjellson[at]lm.se
Vice-Chair and Chair of WG 9.3 - Diagnostic Tools and Prescriptive Practices
for The Valuation Profession
Mr. Steven L. Nystrom, MAI
NewStream Companies
5044 Cyperss Trace Dr.
Tampa, FL 33624
USA
Tel. + 1 813 963 3510
Fax. + 1 813 963 3510
E-mail: nystrom[at]tampabay.rr.com
Vice-Chair and Chair of WG 9.4 - Review of Valuation Methods and Standards
Worldwide
Mr. David Smejkal
Czech Association of Certified Property Appraisers
Tynska 21
110 Prague 1
CZECH REPUBLIC
Tel. + 420 2 2480 8310
Fax + 420 2 2480 8310
E-mail: David.Smejkal[at]a-consultplus.cz
Vice-Chair and Chair of WG 9.5 - GIS-analyses in Real Estate Market Analyses
and Valuation
