The aim of this professional standard is to highlight the main factors that affect the valuation
of woodlands and forests, and to consider and outline the valuation process and approaches.
It does not set out to provide a comprehensive manual for the appraisal of trees, woodlands
and forests nor the explanation of the different valuation methods as these aspects are
This document applies to RICS members in the UK, Ireland and the Channel Islands when
undertaking valuations of woodlands and forests. While the geographic scope of this
standard is the UK, many of the principles are globally applicable and may support RICS
members outside these jurisdictions who are engaged with the valuation of woodlands and
This professional standard should be read in conjunction with the current edition of the RICS
Valuation – Global Standards (Red Book Global Standards) – incorporating the International
Valuation Standards (IVS). Where updates to Red Book Global Standards take effect after the
publication of this professional standard, these take precedence and valuers must ensure
that they are fully aware of any changes. Valuations should always be undertaken within
the context of the institutional framework of the jurisdiction where the property is located.
Furthermore, each country has its own policies, regulations and fiscal incentives, which will
need due consideration.