Property Measurement is changing

New International Property Measurement Standards (IPMS)

Property is measured differently throughout the world. This causes inconsistencies that impact on our globalised market: research suggests that measurements can deviate by up to 24% depending on the approach used.

Such deviation has prevented us from comparing like with like and can significantly hinder decisions made by investors, occupiers and indeed all property users.

To address this issue the International Property Measurement Standards (IPMS) Coalition was formed in May 2013, made up of the world’s leading professional bodies in real estate, property and construction.  Ogilvie Geomatics personnel are aware of these changes and are capable of carrying our surveys compliant with the IPMS.

IPMS: Office Buildings

The first in a series of IPMS standards, IPMS: Office Buildings, was published on 24 November 2014.

The RICS Code of Measuring Practice is currently being revised to reflect these new standards.

Over the next two years, IPMS: Office Buildings will be joined by IPMS: Residential Buildings, IPMS: Industrial Buildings and IPMS: Retail Buildings.

These standards will also be fully incorporated into new guidance issued to RICS members (subject to consultation). Together, they will ensure that chartered surveyors are equipped to provide IPMS measurement services in response to the anticipated, growing market demand for international consistency in property measurement.

For more information check out the following link:

http://rics.turtl.co/flipbook/54de213edb20240800ea114d/?utm_source=newsletter&utm_medium=email&utm_campaign=whatsoncpd&utm_campaign=Conferences+What's+on+CPD+NEW+100415&utm_medium=email&utm_source=RICS