This year, RICS marks the 50th anniversary of RICS Valuation – Global Standards, better known as the Red Book. First published in 1976, the Red Book (pictured above) has become the definitive reference point for valuation, supporting confident decision-making in markets across the world.
As RICS celebrates the success of the Red Book over 50 years, it is examining how the heritage of RICS valuation standards will continue to underpin global valuation for the next 50 years.
The Red Book’s contribution spans far beyond bricks and mortar – underpinning valuations across antiques, art, plant and machinery, natural capital, rural and coastal assets, infrastructure, heritage, cultural and community assets and the growing area of intangible and emerging asset types. Its enduring influence is testament to RICS members’ ongoing commitment to the public interest and upholding the highest professional standards.
As RICS acknowledges 50 years of the Red Book in 2026, the Institution is also keeping one eye on the future of valuation, where high standards, ethical practice and public confidence will remain at the heart of the profession.
Keeping people at the heart of the process
The human factor in AI-assisted decision making
