RICS Knowledgebase

 In RICS valuation standards there is no defined span for the life of a building. For valuation, the appropriate economic life (when requested) is down to valuers’ professional judgement and will depend on factors such as construction type, maintenance etc.

It is important to note that the WLCA process is aimed at physical life of a building and not the economic life. RICS provide additional information on the Depreciated replacement cost method of valuation for financial reporting, 1st edition which will help you in your considerations regarding the measuring of obsolescence.

#Valuation