A coalition of real estate organizations is working to implement international standards for the measurement of residential real estate.

The International Property Measurement Standards will provide a global method to determine the size and dimension of floor space; measures which currently vary from country to country.

“For many, owning a home is the most important investment they’ll make. This new standard will enable investors, estate agents, developers, consumers and other users of professional property services, to make more informed decisions,” commented Alexander Aronsohn, Director Technical International Standards of surveyors’ body RICS.

The members of the coalition include the Real Property Association of Canada.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: