Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Property Council Joins IPMSC

Media Release

14 January 2014

Property Council Joins IPMSC

Property Council is pleased to announce it has joined the International Property Measurement Standards Coalition (IPMSC) - an initiative inspired by the Royal Institute of Chartered Surveyors (RICS).

This coincides with IPMSC launching its public consultation on new international measurements standard for office buildings.

The consultation is calling for the office sector to contribute to a new international standard. It is a three month process and closes on 4 April 2014.

“For New Zealand, IPMSC represents the opportunity to attract investors into our robust market. Investors, especially those investing as fund managers in cross border transactions, will benefit from much clearer and more transparent measurement standards, and through that they will be able to make timely and informed decisions.” Said Chair RICS Oceania Graham Matthews.

The new standard which is the first of its kind and will provide a common language for measuring offices across international markets, benefiting the real estate sector, investors, agents, valuers and occupiers.

A consistent standard provides a reference point to ensure property assets are measured similarly across the world to create a more transparent marketplace and greater public trust, stronger investor confidence, and increased market stability.

Property Council chief executive Connal Townsend believes this is greatly beneficial to all property practitioners around the world.

“Without a consistent framework, buying and selling, investing, and so on is risky business. This helps lower that risk.”

As it currently stands, property assets such as homes, commercial buildings and shopping centres are measured according to the markets they are in which vary dramatically - making it difficult for global stake holders to accurately compare space.

Research done by global property firm Jones Lang LaSalle demonstrates that depending on the method, a property’s floor area measure can vary by as much as 24 per cent.

END

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news