Creating global standards for measuring property
Joseph Wong | 05 Jun 2015 00:30
THE growth of cross-border property investment and expansion by global corporate occupiers are forcing a change in the way property assets are measured.
The measurement standard used by countries sometimes differ and this has made investments in housing, offices and shopping centres more challenging as buyers and investors from one nation may be “misled” by information that is otherwise deemed as standard in another.
“The issue of property measurement is a challenge today because we have so many standards,” says International Property Measurement Standards (IPMS) Coalition chairman Ken Creighton.
The IPMS Coalition, formed on May 30, 2013, is an international group of professional and not-for-profit organisations working together to develop and embed a single property measurement standard.
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