The Cabinet of Ministers of Kyrgyzstan has approved new standards for real estate valuation. The corresponding resolution was signed by Adylbek Kasymaliev.
The document establishes the following:
- Standard of basic concepts and principles of valuation;
- Business valuation standard;
- Regulations for real estate valuation;
- Standard defining requirements for the content and preparation of valuation reports;
- Regulations for the valuation of intangible assets and intellectual property;
- Regulations for real estate valuation;
- Regulations for the valuation of natural and land resources.
Regulatory acts adopted in 2006, 2014, and 2016 governing real estate valuation procedures have been declared invalid.
Earlier, the Cabinet strengthened control over developers and reporting requirements for housing construction.
