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Portuguese real estate valuers : CMVM’s oversight

Explore CMVM's supervision of Portuguese real estate valuers, the legal framework, market insights, and ongoing concerns for trustworthy valuations. Learn about registration, requirements, and market conditions in Portugal. Presentation held in Estoril, Portugal.

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Portuguese real estate valuers : CMVM’s oversight

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  1. Portuguese real estatevaluers: CMVM’soversight Tiago dos Santos Matias Director OngoingSupervisionDepartment Lisbon, 18 May 2018

  2. Portuguese real estatevaluers: CMVM’soversight Agenda Portuguese market: a briefoverviewofthesupervised real estatevaluers The Portuguese Regime Ongoingconcerns: towards a betterandtrustworthy real estatevaluation 2

  3. Portuguese real estatevaluers: CMVM’soversight Portuguese market: a briefoverviewofthesupervised real estatevaluers Registered real estatevaluers 3

  4. Portuguese real estatevaluers: CMVM’soversight Portuguese market: a briefoverviewofthesupervised real estatevaluers Marketnumbers 4

  5. Portuguese real estatevaluers: CMVM’soversight The Portuguese Regime • The legal frameworkofLaw 153/2015 • Thevaluation • Defines the standards andmethodologies • Specifiestheminimumrequirements in termsofformandcontentofthevaluationreport (includingelementsofaccountability. Templateisnotprovidedbutshouldcomplywiththe legal regime, withoutpresentinganyconstraints) • Thevaluer • Knowledgeandcompetencerequirements • Independency [+BdP’s Aviso 5/2006] and [avoindanceof] conflictsofinterestsrequeriments • Subject to registrationon CMVM [in order to provideservices to thePortuguese financial system] • Professional indemnityinsurancerequired 5

  6. Portuguese real estatevaluers: CMVM’soversight Ongoingconcerns: towards a betterandtrustworthy real estatevaluation • The legal frameworkofLaw 153/2015 • Thesurveyor • Knowledgeandcompetencerequirements: continuousupdates • Delegationofthevaluationfunctionisforbiden • Conflictsofinterestsrequeriments • Remunerationandvaluationquality • The Professional Associations role 6

  7. PresentationEstoril, Portugal Lisbon, 18 May 2018 Tiago dos Santos Matias Director OngoingSupervisionDepartment

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