International Property Measurement Standard (IPMS) is a standardised and globally applicable method for

measuring property Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property (usually market value). Real estate transactions often require appraisals because they occur infrequently and every prop ...

. It aims to address current inconsistencies in the way

property Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, r ...

of all types is measured from one market to the next, improving

property market Real estate economics is the application of economic techniques to real estate markets. It tries to describe, explain, and predict patterns of prices, supply, and demand. The closely related field of housing economics is narrower in scope, conc ...

data and providing greater transparency. The standard is the collaborative effort of professional and nonprofit organisations from around the world. These organisations convened for the first time at a meeting hosted by the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

in Washington on 01-2 May 2013, each putting forward a representative to join the IPMS Board of Trustees. Collectively, these organisations (otherwise referred to as the International Property Measurement Standards Coalition, or IPMSC) have agreed to create and implement a single, shared standard for measuring property. The first phase of the project was to develop an international standard for measuring offices "IPMS for Offices" which was to be published in June 2014. A Standards Setting Committee of 19 independent experts has been tasked with drafting the standard on behalf of the Coalition.

Membership

On 1 May 2014, the IPMS Coalition comprised the following 39 organisations: * American Society of Farm Managers and Rural Appraisers (ASFMRA) * Appraisal Institute (AI) * Asia Pacific Real Estate Association (APREA) * Asian Association for Investors in Non-listed Real Estate Vehicles (ANREV) * Asociación de Promotores Constructores de España (APCE) * Asociación Española de Análisis de Valor (AEV) * Asociación Professional de Sociedades de Valoración (ATASA) * ASTM International *

Australian Property Institute The Australian Property Institute (API) is a professional industry body representing residential, commercial and plant and machinery valuers, analysts, fund managers and property lawyers. The API was originally formed in 1926 as the Commonwealth ...

(API) * British Property Federation (BPF) * Building Owners and Managers Association International (BOMA International) * China Institute of Real Estate Appraisers and Agents (CIREA) * Commonwealth Association of Surveying and Land Economy (CASLE) *

CoreNet Global CoreNet Global is an American non-profit corporate real estate association based in Atlanta, Georgia. It represents executives in 50 countries who manage the real estate assets of large corporations; its members include half of the Forbes Global ...

* Council of European Geodetic Surveyors (CLGE) * Counselors of Real Estate (CRE) * European Association for Investors in Non-Listed Real Estate Vehicles

INREV The European Association for Investors in Non-Listed Real Estate Vehicles (INREV), incorporated in 2002, is a non-profit association located in the Netherlands that provides services and education for investors interested in the European non-listed ...

* European Council of Real Estate Professions (CEPI) * Gesellschaft für Immobilienwirtschaftliche Forschung e. V. (GIF) * HypZert GmbH * International Association of Assessing Officers (IAAO) * International Consortium of Real Estate Associations (ICREA) *

International Federation of Surveyors International Federation of Surveyors (abbreviated FIG, after the french: Fédération Internationale des Géomètres) is the UN-recognized global organization for the profession of surveying and related disciplines. It was established in 1878,

(FIG) *

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...

(IMF) * International Real Estate Federation (FIABCI) * International Union of Property Owners (UIPI) *

Italian Real Estate Industry Association Italy has always been a country rich in real estate, in particular, luxury property. History During the centuries, Italy, for mild climate and for the great variety of climatic environments, offered the perfect place for the construction of luxury ...

(ASSOIMMOBILIARE) * Japan Association of Real Estate Appraisers (JAREA) * Japan Association of Real Estate Counselors (JAREC) * National Society of Professional Surveyors (NSPS) * NP “Cadastral engineers” *

Open Standards Consortium for Real Estate Open or OPEN may refer to: Music * Open (band), Australian pop/rock band * The Open (band), English indie rock band * ''Open'' (Blues Image album), 1969 * ''Open'' (Gotthard album), 1999 * ''Open'' (Cowboy Junkies album), 2001 * ''Open'' (YF ...

(OSCRE) *

Property Council of Australia The Property Council of Australia is an Australian national lobby group representing property developers and property owners. It was formed as the Building Owners and Managers’ Association of Australia (BOMA) 1966, incorporated in 1969, and assum ...

(PCA) * Property Council of New Zealand (PCNZ) * Royal Institution of Chartered Surveyors (RICS) * Seocovi SP (SECOVI) * Society of Chartered Surveyors of Ireland (SCSI) * South African Property Owners Association (SAPOA) *

The Appraisal Foundation The Appraisal Foundation (TAF) is the United States organization responsible for setting standards for the real estate valuation profession. The organization sets the congressionally authorized standards and qualifications for real estate appraiser ...

(TAF) The IPMS Coalition website www.ipmsc.org was launched in September 2013. there are more than 80 professional and not-for-profit organisations from around the world working as members of the IPMS Coalition.

References

{{reflist * http://www.rics.org/uk/knowledge/news-insight/comment/rics-joins-international-property-measurement-standards-coalition-ipmsc-at-world-bank-meeting-in-washington-dc/ RICS joins international property measurement standards coalition * http://www.clge.eu/news/index/97 * http://www.ft.com/cms/s/0/79bf642a-aff9-11e2-8d07-00144feabdc0.html * http://articles.economictimes.indiatimes.com/2013-08-07/news/41167858_1_rics-chartered-surveyors-global-investors * http://online.wsj.com/article/PR-CO-20130501-911325.html * https://web.archive.org/web/20130815213403/http://www.propertywire.com/news/global-news/global-property-measuring-standards-201308128106.html * https://www.youtube.com/watch?v=7gsbE-05Zjo * https://www.youtube.com/watch?v=ghsPAuv0_bg

External links

International Property Measurement Standards (IPMS)
Property management