RICS Valuation

RICS Valuation

What is the RICS valuation?


This is an opinion of value following the Red Book standards laid down by the Royal Institution of Chartered Surveyors that includes the International Valuation Standards (IVS-2020), as well as the international rules on ethics and measurements (in force from 31 January 2020).

The RICS is the best-known institution worldwide within the real estate market due to its standards on quality, transparency and consistency.

These valuations have been recognised by funds and investors, family estates, financial entities and Governments in Spain and abroad.

Who needs it?


Determining the value of an asset is essential when making investments or divestments and/or taking strategic decisions for professional, personal or corporate purposes.

They are useful for business operations, estates, transactions, investments, mergers, financial statements, etc.

gloval What makes Gloval different?


Gloval is a team of multi-disciplinary RICS professionals that covers all real-estate segments including hotels, homes, logistics, commercial, offices, nursing homes, student halls, land…

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glovalWhat makes Gloval different?


Order Appraisal

Gloval is a team of multi-disciplinary RICS professionals that covers all real-estate segments including hotels, homes, logistics, commercial, offices, nursing homes, student halls, land…

How do we do it?


We assist our clients with expertise and independence in international RICS/IVSC valuations.

1. Request

Share with us your needs by filling out our form.
We will analyze your request, assign you a team of RICS Members, Registered Valuers and request the necessary documentation.

2. Analysis

In an ever-changing market, our specialized RICS team shares with you its experience, views, creativity, transparency and ethics, in order to maximize the value of real estate assets or portfolios.

3. Evaluation

In the valuation of real estate assets and portfolios we use a methodological approach oriented to market research, asset background, transactions, specific knowledge of the main metrics and ratios of each asset class. Communication with each client is continuous and permanent if they request advice.

4. Delivery

The appraisal is delivered. Our services contemplate integrity and independence in the work, transparency in the resolution of possible conflicts of interest, integrity and responsibility.

Frequently Asked Questions

The RICS Red Book does not state “specific valuation purposes or purposes. It only requires that they are clearly defined in the Terms of Engagement document, which must be signed by the RICS Member and the client, in addition to the signature on the report.

The most common are:

  • Internal use of the client requesting it.
  • Mortgage guarantee for foreign entities.
  • Consolidation or updating of Balance Sheets.

The RICS standards, in compliance with the IVSC, do establish Value Bases, the most representative of which are the following:

  • Market Value / Market Income / Investment Value / Fair Value / Liquidation Value / Fair Value.

Regarding the approaches and methods, they are similar in both regulations, with the difference that the RICS recommends, but does not oblige, to use a specific one. It is the RICS valuator who has the power to choose the most appropriate one to obtain the Market Value, according to his experience, knowledge of it and conditions or particularities at the valuation date.

It is not sustainable over time. The Market Value is valid only at the valuation date, which on the other hand must be perfectly identified in the contract (ToC) and in the report.

RICS Valuations can only be performed by a RICS Member (MRICS) who is registered as a Registered Valuer (Registered Valuer). There are several ways to obtain the title, having to pass several exams and a final test before a court. It should be added that in the RICS valuation reports the ultimate responsibility is that of the MRICS, the RV who signs the report. For further support, the Institution also regulates RICS companies. In this regard, Gloval Valuation is a RICS regulated company with registration number 043086, valid since 04/08/2015.

Both valuation Members and RICS regulated companies are subject to periodic inspections and controls by the Institution.

It depends for what…
The Appraisals can be carried out by Technicians with the qualification of Architects, Technical Architects or Engineers and must belong to a company approved by the Bank of Spain (Appraiser).

On the other hand, the RICS valuations used in the international markets are governed by the “International Valuation Standards Council. IVSC” (International Valuation Standards).

Within this organization is the Royal Institution of Chartered Surveyors. RICS, which includes its regulatory framework in the so-called RED BOOK, where more than rules, recommendations are written on good practices, ethical principles, conflicts of interest, client protection in the field of confidentiality and under an independent, transparent, impartial and homogeneous advice worldwide.

There is a direct and continuous relationship between the MRICS Valuator and the client, since the former drafts the Contract (Terms of Engagement) in compliance with the Red Book and makes it known to the client for signature.

Diptych RICS

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