Harmonisation of European property investment valuations is primarily driven by the continuing internationalisation of business. A key step in the process of harmonisation has been the publication of the Guide Bleu by the European Group of Valuers of Assets (TEGOVA). However, there is a strong recognition on the part of valuers and academics that the process of harmonisation is not necessarily a smooth one due to incompatibility in valuers' qualifications and specific valuation practices. To investigate this, research was undertaken with valuers in Sweden and the Netherlands as part of wider Pan-European investigations. This paper reports on valuer opinions relating to the following key areas investigated; the level of awareness of the Guide Bleu; the perceived importance and relevance of the Guide Bleu to national investment valuation practices; the primary factors promoting and hindering the development of common European investment valuation standards; national standards most commonly implemented and the justification of their use; the level of transparency of the property markets; the take-up of the Guide Bleu standards and what factors would influence valuers to use them; how national practices and standards promote/hinder the use of the Guide Bleu; valuer interpretation of the terminology used in the definition of the approved IVSC/TEGOVA definition of market value. This research was undertaken in order that variations and similarities between the national investment valuation standards and practices of Sweden and the Netherlands could be identified and compared. Conclusions are drawn upon the extent of the differences and common features between the two countries, and to what extent the national definitions of market value compare and contrast to the approved ISVC/TEGOVA definition of market value.

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