The real estate sector celebrates the launch of new harmonised International Property Measurement Standards (IPMS)

The “IPMS All assets” is out now! CEPI congratulates the good work done with the IPMSC (International Property Measurement Coalition) and encourages wide consultation and incorporation of the standards.

The document has been published by the IPMSC, a coalition of 88 property organisations representing hundreds of thousands of property professionals globally, including CEPI, and has been drafted by an independent group of 18 experts from 11 countries.

The document provides the foundation for incorporation and adoption of building measurement conventions in different global jurisdictions and facilitates the interface between the major differences in the historic conventions of those. “IPMS All Assets” (called also, IPMS All Buildings) supersedes all previously published IPMSC standards for individual asset classes by utilising the concepts and objectives contained in those specific versions of IPMS into one harmonised standard.

On the finalization of this vital document, Mr Paul Bagust, Head of Property Standards at RICS and Chair of the IPMS Coalition stated “consistent measurement to enable effective decision making and benchmarking has never been more critical. This standard is the result of many years hard work and commitment from organisations all around the world who have come together with a shared purpose. It will be invaluable to all those working in the built environment”.