RICS Valuation and Appraisal to international standards
The RICS assessment is carried out in accordance with international standards RICS-IVS,globally recognised for their technical rigour and high quality. This type of valuation is in demand by financial institutions, investors and companies for purposes such as funding, value determination in acquisition or sale processes, valuation for accounting, legal and tax purposes,as well as for the analysis of asset portfolios and the implementation of Due Diligence processes,we guarantee transparency, traceability and international acceptance at all times.
We are a leading company with over 30 years of experience in advising companies and individuals in the areas of Consultancy, Valuation and Appraisals. Having the backing of an independent firm such as Gesvalt, approved by the Bank of Spain for the preparation of expert opinions, guarantees technical rigour, objectivity and legal validity,we provide the necessary confidence to defend interests in judicial or extrajudicial proceedings, resolve disputes and support strategic decisions in any market.
What is a RICS assessment and what is it used for?
Standards of the Royal Institution of Chartered Surveyors (RICS)
RICS (Royal Institution of Chartered Surveyors) is the leading international organisation representing real estate professionals and is recognised globally for its high quality standards. Gesvalt has a team of RICS-accredited professionals specialising in different sectors of the real estate market who carry out valuations in accordance with the institution's standards. We also have international alliances that allow us to provide coverage in the main markets of America and Europe.
Typical uses: international operations, investment, auditing, reporting
RICS valuations are mainly used in contexts where maximum transparency, independence and international recognition are required, such as:
- International or corporate operations: because of their prestige and global acceptance, they are preferred in cross-border acquisitions and corporate mergers.
- International funding: international financial institutions use them to value real estate collateral; in some cases, they are also accepted as a complement to ECO appraisals in Spain.
- Sales, rentals, corporate transactions: facilitate the determination of value in complex negotiation, sale or lease processes.
- Accounting, legal and tax valuation: support fair value in accounts, amortisation calculations and monitoring of changes in equity.
- Portfolio evaluations and due diligence: useful for market analysis, financial projections and different strategic scenarios.
- Specialised assets: recommended in valuations of logistics, office, commercial, industrial, hotel and SOCIMI buildings, among others.
Difference compared to models regulated by local regulations (such as ECO)
Spanish regulations, such as Order ECM/599/2025, regulate appraisals for specific purposes, including mortgage guarantees, technical provisions, valuation of real estate assets of pension funds and collective investment institutions. These appraisals, known as ECO appraisals, are designed to strictly comply with regulatory requirements within Spain, following standardised methodologies and supervised by competent bodies.
A RICS valuation seeks to offer a broader, more strategic and global view of the asset, adapting to international contexts and to the specific needs of investors, companies or funds. In addition to its global recognition, it is differentiated by its methodological flexibility and its focus on criteria of transparency, independence and alignment with international standards, which allows it to include more in-depth market analysis, financial projections and scenarios of use or development of the asset.
What are the benefits of a RICS valuation?
Global recognition and international compliance
RICS valuations are performed in accordance with the "RICS Valuation - Global Standards", also known as the Red Book, which are aligned with the IVSC's International Valuation Standards. Being based on international standards, these valuations are globally recognised and accepted in multiple jurisdictions, making them essential for multinational transactions.
At Gesvalt, RICS-accredited professionals prepare these reports, and we also have international alliances that provide coverage in America and Europe.
Transparency, traceability and methodological rigour
RICS reports stand out for their transparency and independence, as well as for the high ethical and professional standards of their authors. These reports are backed by a rigorous and formal methodology, which ensures clear traceability of the valuation process.
Acceptance in audit, restructuring, M&A and asset valuation processes for funds
RICS valuations are widely recognised in mergers, acquisitions and restructuring,the report provides an objective and reliable basis for decision making. At audit,they support fair value in financial statements and facilitate the monitoring of changes in equity. For investment funds,are key in the valuation of portfolios, portfolio management processes and Due Diligence and requests for international fundingthanks to its prestige and global acceptance.
What types of assets can be valued under the RICS standard?
Commercial real estate, residential real estate and land
RICS valuations are broadly applicable to real estate assets, both residential as commercialincluding offices, shopping centres, logistics buildings, hotels or resorts, land and plots of land. The approach is adapted to each typology, integrating local market analysis, trends, risks and financial projections according to internationally recognised standards.
Asset portfolios for investment funds or vehicles
This standard is particularly useful in investment contexts: it allows to value complete real estate portfolios or pools of assets managed by investment funds, or similar vehicles. In addition, RICS reports are used in due diligence processes, value monitoring, strategic scenarios and financing, generating confidence and transparent valuation among national and international investors.
Asset valuation for international financial reporting
Valuations performed under RICS are key in accounting, tax and financial contexts with an international scope. They support the determination of fair value,they are used in audits, support impairment tests, write-downs and purchase price formations (PPAs), and are used as the basis for global financial reporting. This approach brings rigour, transparency and international recognition.
What is the difference between RICS valuation and ECO valuation?
While the ECO valuation is the essential tool to comply with regulatory requirements in Spain, the RICS valuation is a flexible and global market-oriented solution, ideal for those seeking an in-depth analysis that is recognised in any jurisdiction.
Purpose: mortgage guarantee (ECO) vs. investment or audit (RICS)
Both aim to determine the value of an asset, but the ECO appraisal and the RICS assessment respond to different regulatory frameworks and purposes. The ECO appraisal, regulated by Spanish legislation, is primarily designed to serve as a mortgage guarantee and for other regulated uses, such as the coverage of technical provisions or the determination of the real estate assets of pension funds and collective investment institutions. It is a model designed to comply with national legal requirements, under the supervision of the Bank of Spain and with strictly defined methodologies.
Scope: national vs. international standard
The RICS valuation, on the other hand, is not limited to regulatory purposes. It is prepared in accordance with the international standards of the Royal Institution of Chartered SurveyorsThe company's financial statements are aligned with the International Valuation Standards (IVS), and enjoy global recognition. Its use is common in contexts of investment, auditing, mergers and acquisitions, international financing or due diligence processes,where transparency, independence and a strategic vision of the asset are required.
Report format and requirements
There is also a significant difference in the reporting format and requirements. In the case of the ECO, the structure is set by regulation, with mandatory legal and physical checks, a validity period of typically six months and the need for it to be issued by an approved company. Whereas in RICS valuations, the accredited valuator has greater methodological freedom, being able to apply comparables analysis, discounted cash flow or other approaches depending on the purpose of the valuation. RICS reports are tailored to each transaction, are not subject to a predetermined expiry date and offer a clear, traceable and understandable presentation for international partners.
Why choose Gesvalt for your RICS valuation?
RICS-certified accredited professionals
At Gesvalt, our team of experts is RICS certified, in addition to other relevant certifications, to ensure that our reports meet quality standards.
Experience in international operations and large portfolios
From our 18 offices in Spain, Portugal and LATAM and our capacity to act in more than 40 cities around the world thanks to our international agreements with Praxi Valuations Network and Valuation Research Group (VRG), we have been accompanying our clients in their valuations for more than 30 years, including advising major investment funds in portfolio valuation operations, acquisitions and investment or divestment strategies.
Reports adapted to multinational regulations and audits
Our reports rigorously comply with international RICS standards and are also produced with a strategic approach that facilitates their integration into international audits, accounting processes and financial reporting. Each document combines strong technical support with a fully traceable methodology and clear presentation, ensuring acceptance by auditors, investors and regulatory authorities in multiple markets.
Frequently asked questions about RICS valuations and appraisals
Who can sign an RICS valuation?
Who can sign an RICS valuation?
RICS valuations may only be signed by a valuer accredited as RICS Registered Valuermember of the Royal Institution of Chartered Surveyorsthat meet the international standards of the RICS Valuation - Global Standards.
Is an RICS valuation valid in Spain?
Is an RICS valuation valid in Spain?
Yes, RICS valuation is valid and recognised in Spain, especially for investment, audit, corporate operations and international financebut does not replace the ECO appraisal for regulated mortgage purposes.
Can a RICS valuation be combined with an ECO valuation?
Can a RICS valuation be combined with an ECO valuation?
Yes, it is common to combine the two when compliance is required. national mortgage law and, at the same time, to have a report internationally recognised for investors or auditors.
What is the cost of a valuation under the RICS standard?
What is the cost of a valuation under the RICS standard?
The price of an RICS valuation depends on the type of asset, its complexity and the scope of the report; a personalised quotation according to the client's needs.
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