Did you know that property sizes can vary by up to 24%?
Gleeds has joined the International Property Measurement Standards Coalition (IPMSC) to help property investors, developers and occupiers accurately compare floor areas on a like for like basis around the world.
Floor space measurement standards vary significantly from country to country. According to research shared by the IPMSC, inconsistencies in the inclusion of items such as off-site parking, lift shafts and swimming pools mean measurements can differ by as much as 24%.
For businesses buying, letting and selling property around the world, this inconsistency has the potential to cause confusion, delay and additional costs.
The International Property Management Standards, which Gleeds has committed to rolling-out across all of its projects, set out how to consistently measure property floor space by property type. The first standard for commercial space came into effect on 1 January 2016, with more sectors soon to follow.