Abstract
The aim of this article is to shed some light on the difficulty, and at the same time, the unavoidable change towards the embracing by valuers in Poland, of one of the most fundamental principles of property valuation, being “highest and best use” and “hope value”. Both are inherently linked to the interpretation of “market value”. The article offers a detailed analysis of international practice and the most important developments concerning professional standards for property valuers in Poland. The considerations presented herein focus mostly on issues arising out of the interpretation of “market value”. While the legal wording of its Polish definition could be considered similar to the one presented in internationally recognised valuation standards, Polish practice concerning assumptions about the use of a property at the date of valuation is very different.