RICS Europe Annual Review by Dennis Janssen

Rics Europe Annual review 2009/10 Europe

Dear Members, As has been our custom in recent years, we are sending you with your subscription renewal notice this Annual Review of RICS activities in continental Europe - in a new format - for the business year 1 August 2009 to 31 July 2010. Although sometimes rather challenging, this past year has been very good for RICS in continental Europe. A growing number of professionals have appreciated the importance of joining RICS in our World Region.

Contents From the Chairman

2009/10 in brief, and the year ahead

RICS Europe Annual Meeting

New global RICS governance

RICS Europe Boards

From the National Groups

Renew your membership!

RICS accredited courses

APC developments

Firms regulation now in Europe

Global sustainability

RICS Policy & Public Affairs in Europe

RICS in the media

Enclosed with this Annual Review is your 2011 subscription renewal notice. Please settle your subscription fees no later than 1 January 2011. This will help us deploy our limited resources for more value-generating activities for you, our members, rather than chasing late payments. Also, a fee applies to late payments and non-payment will result in the loss of your RICS membership. Payment can be made conveniently on www.rics.org/renew Please be assured that RICS Europe and the National Groups will continue to develop new activities in the coming business year to raise the profile of the chartered surveyor in Europe, and add benefit to your membership. Do not hesitate to contact Liliane Van Cauwenbergh, Managing Director RICS Europe at Lvancauwenbergh@rics.org, or myself at ricseurope@rics.org should you have any questions or comments. Best wishes, Luciano Capaldo FRICS Chairman RICS Europe

RICS Europe Annual Review 2009/10 An update from RICS Europe and the National Groups Editor-in-Chief : Liliane Van Cauwenbergh Publisher : Vero Escarmelle Design concept and layout : Zone - i Production : Auspert-Pauwels, November 2010 Copying for other than personal or internal company reference is prohibited. Additional copies may be ordered at RICS Europe. Tel +32 2 739 42 23. Email ricseurope@rics.org © Copyright 2010 RICS Europe 2 - RICS Europe

3 Annual Review 2009/10

2009/10 in brief, and the year ahead Business plan 2010/13

2009/10 was a challenging year for RICS in many of its markets – as it was for the property sector in general. Still, we managed to develop our membership on a worldwide basis by 1,633 qualified members, lost 291 trainees and added 7,665 students.

-613

31,335

2,955

Asia Pacific

6,523

344

1,582

279

6,170

2,020

Continental Europe

4,390

655

1,523

-76

3,792

711

MENEA

2,461

425

699

7,089

1,527

Americas

2,277

215

200

-15

1,178

118

Ireland

1,789

538

156

Oceania

1,781

261

4,162

India

348

158

312

115

Total

92,650

1,633

16,462

-290

54,576

7,659

In continental Europe, we had again a very good year, adding 655 qualified members and losing only 76 trainees on a net basis. In reality 828 new members joined mainly as a result of Final Assessments and to a lesser extent as Eminent members (49) and through Direct Entry agreements (46), but we lost some of these members who moved to other World Regions as a result of the economic crisis hitting very hard in some European countries. Also, we added 367 new trainees who qualified as MRICS in the course of the business year. To achieve this result we held some 50 Final Assessment sessions of between 5 and 120 candidates in 20 countries and 8+ languages. The average pass rate of our Final Assessments was 73%. We are very proud to inform you that for the first time in its existence RICS Europe has contributed to the RICS bottom line. For 2009/10 our income was € 2.6 million and our expenditure € 2.5 million making a small net contribution of € 92,000. This is particularly important as it shows the progress we are making - in July 2004 we had 1,617 qualified members and a loss for the year of € 990,000 - and the significant potential of RICS as the mark of property professionalism in continental Europe.

Qualified 31/7/10

12,149

Qualified 31/7/09

-250

Germany

856

999

France

663

750

Netherlands

274

332

Italy

214

271

Spain

239

254

Russia, Ukraine & Kazakhstan

153

215

Cyprus

193

198

Poland

164

176

Switzerland

116

156

Belux

127

151

Hungary

118

134

Czech Republic

103

Romania

Greece

Austria

Portugal

Denmark

Sweden

Baltics

Turkey

Finland

116

118

3,735

4,390

Ranking 31/7/10

73,081

RICS Europe qualified membership

Student growth 2009/10

Students

Trainee growth 2009/10

Trainees

Qualified growth 2009/10

Qualified

RICS as at July 2010

World Overview

Global RICS membership as at 31 July 2010

Rest of cont. Europe Total

At the request of the RICS Management Board (the RICS Board reporting directly to Governing Council and to which the RICS Europe Board reports) RICS Europe proposed an ambitious business plan for 2010/13 which was approved by the Management Board. For business year 2010/13, the key points to note for continental Europe are : • continued investment in the mature economies of Western Europe focusing on key countries (mainly Germany, France, Netherlands, Italy, Spain), and continued limited investment in the other continental European countries • increased investment in the fast growing Russia and CIS by adding a Business Development Assistant to the Regional Manager we have in place already, opening a small office in Moscow, and recruiting a media agency • further investment in Poland by recruiting a Country Manager (to date Poland has been managed by the Regional Manager CEE based in Budapest) • potential investment in Turkey by recruiting a Country Manager (to date there has been no staff on the ground) • strengthening our pan-European marketing, communications and public relations capacity by recruiting a Communications Assistant to support the RICS Europe Public Relations Manager and the Marketing & Communications Manager • focusing on standards and guidance by recruiting a Professional Groups Project Manager who will be responsible for facilitating the creation of relevant guidance and best practice working with HQ Professional Groups, relevant Boards and National Groups. To have a look at the full global plan, please check the ‘Business Plan for financial years 2010/11 to 2012/13’ on www.rics.europe.eu/news

4 - RICS Europe

5 Annual Review 2009/10

RICS Europe Annual Meeting On 14 and 15 October 2010 the RICS Europe Board, the Chairs and representatives of the National Groups in continental Europe, the European representatives on the Governing Council, the European representative on the Regulatory Board, and the European Managers, met in Lisbon for the Annual Meeting of RICS Europe. In the plenary session on 14 October, Jim Carter FRICS, Chairman of the Management Board emphasised the strategic priorities of RICS and explained the work that is underway to create a global HQ in the UK, the first step of which has been to set up a UK World Region which is responsible for devising and overseeing the RICS strategy in the UK as is e.g. the RICS Europe Board for the continental European strategy. Also, he highlighted the importance of RICS standards and the recognition of these in the global markets. Rob Mahoney FRICS, the new Honorary Secretary, explained his role in the governance of the Institution, the facilitation of contributions made by the members, worldwide consistency and cohesion, member nominations and appointments, the link with the Regulatory Board, and the resolution of member complaints. He then went on to clarify the member-staff relationship : the members, supported by staff, set the direction, strategy and the objectives; and the staff, supported by members, develop and implement operational plans to meet those objectives and deliver the outcomes. On 15 October, members and staff shared best practice with a view to exchanging and learning from experiences and practices in the other countries.

6 - RICS Europe

New global RICS governance Based upon the decision made by the RICS global membership in July 2008, RICS Europe and the National Groups spent extensive time in 2009/10 implementing the new governance, as follows : • A new nominated Continental Europe Educational Standards Board was set up in December 2009. • Twelve local legal entities were wound down and replaced with common RICS structures, to ensure optimum compliance with tax, financial and employment requirements and protect members serving on Boards from potential liability. All members are subject to the common RICS Charter, Bye-Laws and Regulations within the RICS legal and operational structure. • Following this, new branches of RICS International Ltd were set up in those countries where we have staff, an office and significant local revenue. In those countries where we do not have branches, we are operating via RICS International Limited, a limited company in the UK. This new legal structure does not significantly affect the activities organised by the National Boards. • We worked with all countries to review the terms of reference and composition of the National Boards to create a smooth transition to the new governance system in a way which will ensure the consistency of the RICS brand across the globe. As a result of this 19 new Boards were set up in continental Europe (see right column).

The National Group Chairs as at October 2010 : RICS Belux Jean-Paul Ducarme MRICS RICS Baltics Patrick Simon FRICS RICS eská Republika Glyn Evans MRICS RICS Cyprus Petros Stylianou MRICS RICS Danmark Michael Sehested MRICS RICS Deutschland Jörn Stobbe MRICS RICS España Luis Martin Guirado MRICS RICS France Pascal Plotegher FRICS RICS Hellas Ioannis Ganos MRICS RICS Italia Marzia Morena MRICS RICS Magyarország Pál Baross FRICS RICS Nederland Eric Martens MRICS

RICS Europe Boards RICS Europe Board Luciano Capaldo FRICS, Chairman Pedro Abella Langa FRICS Diederik Bakker FRICS Alain Béchade FRICS Reno Cardiff MRICS Pierre-René Gervasi MRICS Adam Grabski MRICS David Lawrence FRICS Robert Mayhew MRICS Jörg Schwagenscheidt FRICS Liliane Van Cauwenbergh Jana Vlkova MRICS

Continental Europe Educational Standards Board (Chairman to be appointed)

Michel Baroni FRICS Frank Brün FRICS Andrea Ciaramella FRICS Ralf Klann FRICS Łukasz Maciak MRICS Prof. Dr. Bob Martens FRICS Mary Ann Reynolds FRICS Patrick Ruwiel MRICS Patrick Simon FRICS Carl O. Stinglwagner FRICS Alain Van Houtte MRICS

RICS Sverige Agneta Jacobsson FRICS

RICS Europe Valuation Professional Group Board

RICS Österreich Mag. Peter Höflechner MRICS

Carlos Rodriguez MRICS, Chairman

RICS Polska David Brittain FRICS

• A brand new RICS Europe Valuation Professional Group Board was nominated in early August 2010.

RICS Portugal Eric van Leuven FRICS

The key objective and benefit of the new governance is to ensure that RICS is a truly single brand the world over – with the same high standards, and the same entry processes and procedures, no matter where it operates in the world.

RICS Rossia & CIS Olga Arkhangelskaya MRICS

RICS Romania Jonathan Youens FRICS

Jean-Philippe Carmarans MRICS Aart Hordijk MRICS Prof. Dr. Gerrit Leopoldsberger FRICS Alexander Lopatnikov MRICS Margaret Macdonald MRICS Nick Powlesland FRICS Paola Ricciardi MRICS

RICS Switzerland Oliver Hofmann MRICS

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From the National Groups RICS Europe staff, Brussels

RICS Belux

In the business year 2009/10, RICS Belux grew from 124 to 155 qualified members. Although Belgium does not have a broad international investment market in real estate, RICS Belux did succeed in making the RICS qualification more popular among professionals, as standards and professionalism are also more in demand. Luxembourg membership is growing too, as RICS and the Red Book are more in demand from the regulated Investment Funds in that country. With two excellent Master of Real Estate accredited courses in Belgium, conversion from student to member has been a focus point for RICS Belux. RICS Belux organised some interesting CPD events in 2009/10 including a sustainability conference held in Ghent. Also, for the first time, RICS Belux organised an RICS lunch during Realty Fair in Brussels, with 160 members and their guests attending.

RICS in Central & Eastern Europe RICS membership continues to grow in the Czech Republic, Hungary, Poland and Romania, tripling the number of qualified members in the last 5 years. Regular CPD events have been held in Hungary and Poland, and an attractive CPD programme was developed for the Czech Republic and Romania. We also set up several work groups in Hungary, signed a direct entry agreement with ANEVAR (valuers association) in Romania and joined the Green Building Council in the Czech Republic.

In summary, we have made further steps in strengthening the sense of community amongst RICS members in the region and have developed RICS into a lively and open platform for exchanging views and experience for the benefit of the wider real estate profession and the public interest. Looking forward, Professional Groups are being established in Hungary in the fields of Property, Finance & Investment, Sustainability and Valuation to make sure the opinion of RICS members is heard in the wider community. Also, the Hungarian translation of the Red Book will soon be made available to members and end-users. In the Czech Republic we will continue to focus on organising regular networking events both for members and non-members. In Romania we will organise visits to secondary markets outside of Bucharest and introduce RICS to some other local associations. In Poland, Anna Konieczna will join as Country Manager to further develop the membership and raise the profile of the Institution. Finally, we will continue strengthening the relationship with our key accounts across the region and we expect further interest from countries such as Bulgaria, Croatia, and others.

RICS Cyprus

RICS Cyprus has just finalised the third publication of the RICS Cyprus Property Price Index, a quarterly price and rental index based on a methodology developed by the University of Reading (UK) and produced in cooperation with the local Association of Construction Economists SEEOKK. The Index tracks property and rental prices in all districts and for all main property types. It has now become a useful tool for further cooperation with local institutions and is contributing to the development of the Cypriot real estate market. RICS Cyprus has reached an agreement with the newly formed Neapolis University Centre for Real Estate (NUP CRE) for the writing of a more detailed report by Dr Petros Sivitanides MRICS commenting on the results of the RICS Cyprus Property Index by city and property type in terms of prices and rent levels. Furthermore the summary of this report will be used as a basis for a larger quarterly market report by NUP CRE which will include additional sections on the economy, market activity in terms of sales contracts, building permits, construction costs, etc.

district of Frankfurt city centre. In July 2010 it tipped the 1,000 chartered surveyors mark. This success story, based on the voluntary work of almost a generation of dedicated members, is a commitment to continue to shape the future of the real estate world. Looking forward - RICS Deutschland will take advantage of the opportunities offered by the RICS Europe integration to face the challenges of the continuing changes in our economic, political and social environment. Besides promoting key issues such as transparency and ethics the German Board has decided to focus on significant topics such as sustainability, valuation, demography, inflation and Solvency II. These activities will be led by the various RICS Deutschland committees and Professional Groups on the basis of a fertile dialogue with members, partners and political institutions at national and European level. RICS at Expo Real, Munich

RICS Deutschland

8 - RICS Europe

Looking back - when RICS Deutschland was formed 17 years ago with a handful of chartered surveyors - few expected it to develop into one of the most reputed real estate organisations in Germany with an office in the heart of the thriving banking 9 Annual Review 2009/10

RICS Nederland

RICS membership continues to grow in the Netherlands. The RICS qualification is now widely recognised among professionals, stakeholders and the government. Almost 70 new qualified members joined in business year 2009/10 and 100 trainees are waiting to be assessed.

Cobra conference, Paris

RICS France

RICS España

Since its set-up in line with the new governance, the Spanish Board has begun work to improve and extend services to members. Some of the initiatives : - RICS business lunches in Barcelona spearheaded by Andrew Hawkes MRICS following a simple but successful format specialists in the field make a short presentation followed by a debate and lunch. Past events include «Sale and Lease back : Implications for the company’s finances» and «New vehicles in Real Estate Investment». - Anthony Fisher MRICS has taken responsibility for coordinating the content of the e-news sent to the Spanish membership. It is being sent more frequently than before and has seen a significant rise in readership. - A Valuation Professional Group has been set up. Its members are responsible for promoting the Red Book and valuation professional standards amongst members and the professional community. As part of this, the group is discussing the Red Book Launch in Spain, as well as the creation of its Spanish chapters. We are currently in the process of establishing the Commercial Property Professional Group, the Residential Professional Group, and the Construction Professional Group. 10 - RICS Europe

Despite an uncertain economic context in real estate markets, RICS France has continued to develop fast in the past business year. The Institution brought its members’ expertise and vitality to the real estate industry, through more than ten professional training conferences, over 50 Professional Group meetings, notably on the environment, commercial and retail property, town planning and valuation, a valuation conference, and a major research conference gathering more than 350 researchers from all over the world. Next year RICS France will concentrate on the introduction of Firms Regulation and the Valuer Registration Scheme, and pursue the work of its Professional Groups on current issues and market needs. RICS France benefits from the ongoing support of its volunteer members and is grateful for their commitment and contribution to the success of its development and profile-raising activities.

RICS Italia

The new Board of RICS Italia was set up during the summer. Some projects have been launched to improve member services and to raise the Institution’s profile in Italy. The next CPD events will be : - Conference on Fund Management in Rome in November - Conference on Valuation in Milan in November. In September, the local Board had a meeting with CONSOB (the Italian Stock Exchange Regulator) to make them aware of the Red Book and the role of RICS valuers in the process of regulating the real estate market during this period of recession. Membership grew by 25% during the 2009/10 business year in line with European growth. The target for the next business year is 350 members in Italy. The Red Book committee is completing the translation of the last amendments to be ready in November 2010. This is also the first step to set up an Italian Valuation Professional Group.

Nine CPD events were held in the Netherlands, thanks to a well organised Member Services Committee. The annual Gala Dinner at the Okura Hotel in Amsterdam was attended by 400 members and guests and is now on the official list of ‘must attend’ events for Dutch real estate professionals. The Valuation Committee will further promote RICS and the Red Book with translations of guidance notes and the organisation of a yearly valuation conference for the professional market. This further establishes RICS as the leading brand of professionalism in valuation.

RICS Nordic

Early 2009, work started to firmly establish RICS in the Nordic region. In the past business year RICS Sverige was launched and Member Boards were selected in Sweden and Denmark. Also development activities were initiated in Finland, and we are now 160 qualified members in the region. Looking ahead to 2010/11 the next phase is to offer some services to the membership over and above the qualification. The various Boards are now planning CPD and networking events and conferences. RICS Nordic launch event, Stockholm

11 Annual Review 2009/10

RICS Rossia & CIS, Yalta

RICS Europe meeting, Lisbon

RICS Portugal

RICS Rossia & CIS

2010 has been a fruitful year for RICS Portugal. Despite the difficult economic circumstances, membership has grown to 85 and there is continued strong interest to join RICS in the property community.

2009/10 was marked by the creation of a local Valuation Professional Group. Also, it was another strong year in terms of membership growth, diversification of pathways, and geography.

Undoubtedly the biggest accomplishment in Portugal has been the completion of the translation of the Red Book into Portuguese, accomplished thanks to the relentless efforts of Jose Covas MRICS who coordinated the work of the Valuation Professional Group. The Launch Event will take place on 30 November in Lisbon, in the presence of a.o. Jose Miguel Almeida, Director of Regulation of the CMVM (Stock Exchange Regulator) and Robert Peto FRICS, RICS President.

RICS Rossia & CIS managed to establish working relations with government bodies, local professional associations, and has become a strong voice in the property market.

We started cooperating with the BPCC (British Portuguese Chamber of Commerce), ICE (Institution of Civil Engineers) and CIOB (Chartered Institute of Building) which yielded two very successful events, in particular the “Building Excellence” in the Algarve on 19 October. 2011 will see the start of the Forum Imobiliário RICS (a series of events in collaboration with our accredited course ISEG) and the Portuguese Housing Market Survey, a residential sentiment survey which has the support of INCI (Instituto da Construção e do Imobiliário, the Regulator of both the Real Estate and Construction sectors), CGD, Millenium and others.

12 - RICS Europe

In the coming months, RICS Rossia & CIS will be working on : - the Russian version of the Red Book, to be released in December and supported by a promotional campaign - the next edition of the Red Book in Spring 2011 - a new legislation for mortgage purposes and incorporation of RICS rules of conduct into the National Valuation Council charter.

RICS Switzerland

2010 saw the arrival of RICS Switzerland at two important property fairs in Switzerland. Currently, RICS is well known in the German and French-speaking parts of the country but not in Ticino, the Italian-speaking area. Pascal Brülhart MRICS, our Italian-speaking member on the Board and responsible for development of the membership in that part of the country, decided it would be important for RICS to be represented at IMMOespo, an annual event which takes place in Lugano. The event was a success in raising our profile amongst the business community and fellow real estate associations.

Later in the year, RICS got involved in RealSite, another fair, this time in Zurich. In its first year this new fair was well supported and the RICS profile was again well established. Many members took part as speakers in different forums and podium discussions. RICS Switzerland acknowledges the importance of these profile-raising events and will attend both fairs again in 2011.

RICS Switzerland stand at IMMOespo

13 Annual Review 2009/10

Who to contact in the different countries

Did you know that? ›T he Red Book is recommended by the Spanish Stock Exchange Regulator (CNMV) for the valuation of quoted company assets. ›M ore than 50% of valuations for Portuguese banks must be done in accordance with the Red Book (requirement by British, German and American investors). › I n Russia, Ukraine and Kazakhstan, RICS chartered valuation surveyors are the first preference for foreign banks and are better qualified to comply with the tender requirements of the Federal Antimonopoly Committee recommendation of Russia. › I n its June 2010 half-yearly report, the Cyprus Central Bank quoted the RICS Cyprus Price Index as a reference for the movement of real estate prices during the first quarter of the year.

Quarterly European e-news

To receive the quarterly European e-news offering you an update on pan-European projects, activities and events, EU public affairs, research and surveys, and RICS Europe in the press, please send your membership number and email address to ricseuropecomms@rics.org with the message ‘Send me your e-news’.

Austria : Kristin Bammel at kbammel@rics.org Baltics : Anabel Rodriguez at arodriguez@rics.org Belux : Ed Nypels at enypels@rics.org and Marina de Nevares at mdenevares@rics.org Central & Eastern Europe (excl. Poland) : Anna Orcsik at aorcsik@rics.org Cyprus/Greece : Liana Toumazou at ltoumazou@rics.org France : Marc Ménagé at mmenage@rics.org, Brigitte de Pertat at bdepertat@rics.org and Isabelle Ung at iung@rics.org Germany : Judith Gabler at jgabler@rics.org, Christoph Schmidt at cschmidt@rics.org, Christine Ciampa at cciampa@rics.org, Heidi Beaunée at hbeaunee@rics.org, Christiane Saarkamm at csaarkamm@rics.org and Anke Schnell at aschnell@rics.org Italy : Philippe Cros at pcros@rics.org Netherlands : Ed Nypels at enypels@rics.org, Anneke Bank at abank@rics.org and Klaartje Wijvekate at kwijvekate@rics.org Nordic : Mikael Wadsten at mwadsten@rics.org Poland : Anna Konieczna at akonieczna@rics.org Spain/Portugal/Gibraltar : Lali (Eulalia) Pensado at epensado@rics.org Russia & CIS : Vera Rukina at vrukina@rics.org, Ksenia Panzhinskaya at kpanzhinskaya@rics.org Switzerland : Mary Ann Reynolds MRICS (general matters) at ricsswitzerland@rics.org, Kristin Bammel (German-language APC) at kbammel@rics.org and Anabel Rodriguez at arodriguez@rics.org (French-language APC) Turkey : Anabel Rodriguez at arodriguez@rics.org Any other European country or pan-European matters : Liliane Van Cauwenbergh at lvancauwenbergh@rics.org

14 - RICS Europe

renew your membership! In the past few years RICS has managed on a worldwide basis to improve the collection of annual subscription fees. Nevertheless our staff members in Brussels and in the National Groups continue to spend a lot of time ensuring that all members pay their subscription renewals on time. To make the process easier for all, we continuously aim to make improvements : • instead of receiving the renewal notice only by postal mail all our members who have informed us of their email address will receive the renewal notice by email – this significantly improves deliverability • and in addition, to make your life easier, like last year you will receive an invoice as part of the renewal pack.

KEY information :

IMPORTANT - Please do not forget to mention ONLY your invoice number when paying – otherwise we may not be able to link your payment to your name, and will unfortunately continue chasing you even if you have paid – a waste of time for you and for us.

Contact :

• please pay before 1 January 2011 • note that you can very easily pay online by going to www.rics.org/renew

Please direct all your renewal queries to renewalsineurope@rics.org so they can be dealt with by the multi-lingual staff close to you in Europe (Dutch, English, French, German, Greek, Hungarian, Italian, Portuguese, Russian, Spanish and Swedish).

New online directory for European qualified members

RICS Europe, in collaboration with Property EU, is introducing a new tool to the qualified membership in continental Europe to promote the members’ services to the global business community and the public. This brand new free service, MemberSearch@RICSEurope, is based on a comprehensive database containing members’ contact details and professional activities. Don’t forget to update your details before it goes live on 10 January 2011. For your login details, please contact rics@propertyeu.info

Make your mark! 75e

Have you ordered your RICS stamp yet? It is exclusively customised with your name, designation and membership number? You can use it to personalise your valuations, reports and correspondence. If you order before 31 December, you will pay 75 instead of 100 EUR (incl. packaging and postal delivery, excl. VAT). To order go to www.ricseurope.eu/stamp

15 Annual Review 2009/10

APC developments RICS accredited courses

As has been communicated previously, RICS Europe has changed its course accreditation policy in the past few years : • in addition to having to be in line with our quality requirements, courses will only be re-accredited if they show satisfactory conversion results. To achieve this, National Groups have intensified their collaboration with universities as well as their active presence at accredited courses • to use our limited resources effectively, new courses will only be accredited if they are critical to the development of RICS in the relevant country. In the past year Kristin Bammel, Education Development Manager Europe, has worked closely with accredited courses to ensure that the RICS Quality Assurance measures are well understood and carefully implemented. At the moment we have a total of 45 accredited courses in 12 countries in Europe, spread as follows: Austria: 4 Belgium: 2 Denmark: 1 France: 8 Germany: 18 Hungary: 1 Italy: 2 Netherlands: 2 Portugal: 1 Russia: 1 Spain: 2 Switzerland: 3

During 2009/10, we continued the APC harmonisation work that was started in 2007. As one of the key changes, the preparation seminar for APC candidates is no longer compulsory, although it is still highly recommended for all candidates. Also, we have continued to train assessors across Europe, to monitor Final Assessment interviews and have collaborated with National Groups on the quality of referral reports. The first European Harmonisation Workshop was held on 9 September in Brussels and gathered the European Licensed Trainers (these are the members who have been trained to train the assessors). This workshop looked at further improvements that could be made before, during and after Final Assessment interviews to ensure the consistency of the APC across Europe, and offer candidates an optimal chance to complete a successful interview.

Welcome to MyAPC

MyAPC is an easy-to-use online platform for the duration of the Assessment of Professional Competence (APC) until candidates pass the Final Assessment and become RICS members. This tool is available to all continental European RICS trainees. Check it out at www.joinmyapc.eu

Upgrade on MyFellowship

MyFellowship allows MRICS via a user-friendly online system to complete the application process to upgrade to FRICS. Check it out at www.joinmyfellowship.eu

MyAPC continues to grow, and has now more than 1,700 candidates registered. MyFellowship launched in February 2009 has to-date seen 58 members upgrade to FRICS. Contact : Anabel Rodriguez, Operations Manager RICS Europe at arodriguez@rics.org

To find out more details, please go to www.ricseurope.eu/accreditedcourses Contact : Kristin Bammel and Anna Galiano, Education Development team RICS Europe at kbammel@rics.org and agaliano@rics.org

16 - RICS Europe

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Firms Regulation now in Europe Why to become ‘Regulated by RICS’?

In an increasingly competitive marketplace, being ‘Regulated by RICS’ provides a clear regulatory framework and forms the basis for strong client confidence, giving firms a distinct advantage over non-regulated firms.

‘RICS Regulation’ in a nutshell

From November 2010 surveying firms in Europe will be able to register for the ‘Regulated by RICS’ certification. With 10,000 firms already successfully registered in the UK, we look forward to offering European firms an opportunity to enjoy the same benefits. By launching firms regulation in Europe, we are reaffirming the commitment of RICS to uphold standards in the property market.

The core principles of firms regulation are set out in the Rules of Conduct for Firms. These rules are designed to help firms maintain standards and professionalism at the highest levels to protect clients’ interests, including taking responsibility for professional obligations such as : • providing training for all staff • having a recognised clients’ complaints procedure • safeguarding clients’ money • holding an appropriate level of Professional Indemnity Insurance (PII).

How to become a ‘Regulated by RICS’ firm

Firms regulation is voluntary in continental Europe, free of charge, and requires that 50% or more of your firm’s directors and/ or principals are RICS members. If you have less than 50%, please contact us to discuss how you can qualify. Contact : Lavinia Cinca, European Regulation Officer and Jory Buhay, European Regulation Manager at regulationeurope@rics.org or on +32 2 289 25 35 Website : www.rics.org/regulationeurope

18 - RICS Europe

Global sustainability Sustainability is not only high on political agendas of governments worldwide, it is also a critical business issue in the property sector. Acknowledging the importance of sustainability both for the organisation and its members and their respective clients, in August 2009, RICS created the new role of Global Head of Sustainability Policy based in Brussels. Ursula Hartenberger’s appointment marked the beginning of a number of targeted activities towards both members and stakeholders.

Encouraged by the clear commitment of RICS, a number of sustainability committees have been set up, such as in France and Germany, and going beyond Europe in the Americas and Asia complementing the work of the existing cross-professional Sustainability Working Group and the Oceania member group. Also, to provide guidance and training to property professionals, a growing number of sustainabilityrelated CPD events have been organised across Europe.

In the run-up to the December 2009 Copenhagen Climate Summit, RICS launched its Global Climate Change Strategy in New York, signed the Copenhagen Communiqué alongside leading world business leaders and co-organised an event at the summit itself.

In August 2010, the sustainability team was reinforced by the addition of Nathalie Bellanger in charge of sustainability communication and the coordination of global sustainability events, and John TraceyWhite FRICS an experienced construction expert responsible for RICS’ various international sustainable development projects.

A number of research pieces were launched, such as ‘Doing well by Doing Good’ providing the first evidence of energy efficiency certified buildings achieving higher yields in the US, ‘Why do companies rent green?’ highlighting the increasing impact of companies’ CSR policies on property investment decision making, as well as ‘Redefining Zero : Carbon profiling as a solution to whole life carbon measurement in buildings’, and ‘Life Cycle Costing of Sustainable Design’ to name but a few. Member guidance included the ‘Sustainability and the property life cycle’, the Valuation Information Paper 13 ‘Sustainability and commercial property valuation’ as well as the ‘Global Glossary of Sustainability Terms’.

In summary, things have come a long way since the adoption of the RICS Sustainability Policy back in 2005, which is also strongly reflected in the 2010/13 business plan. To illustrate that it is practising what it preaches, RICS has been monitoring the carbon footprint of its major UK-based premises since 2007 with a view to a future inclusion of its world regional offices and by actively engaging with its staff in taking further steps to reduce the impact of the organisation on the environment. Contact : Ursula Hartenberger, Global Head of Sustainability Policy at Uhartenberger@rics.org Website : www.rics.org/sustainability

To improve communication around this crucial issue, a new dedicated sustainability webpage (rics.org/sustainability) and a quarterly global sustainability newsletter – Global Balance - were created.

19 Annual Review 2009/10

RICS Policy & Public Affairs in Europe European Housing Review conference, Brussels

tions are automatically recognised across the EU and EEA, RICS members may have to apply for recognition to the national authorities in the Member States in which they wish to work. Therefore, RICS has published a guide and a set of Q&As to explain how members can get their professional qualifications recognised in Europe. This guide also details the provisions of the system for the recognition of professional qualifications introduced by the EU Directive 2005/36/EC.

Financial services

European Valuation conference, Brussels

RICS has been actively engaged in a new proposal on Alternative Investment Funds (AIFM), proposed by the European Commission in April 2009. Originally intended for Hedge Funds and Private Equity Funds only, if adopted, AIFM is likely to cover property funds such as REITs and Open-Ended Real Estate Funds as well. RICS’ position to the proposal included reservations to this onesize-fits-all approach, due to the specific characteristics of Property Funds, as well as to the valuation aspect of the proposal.

Housing 2009/2010 has been a very active year for the EU Policy and Public Affairs team in Brussels. Here are some of the highlights :

Recognition of Professional Qualifications

The mutual recognition of professional qualifications is of great significance to the functioning of RICS members all over Europe. According to EU legislation, RICS members have the right to practice in any Member State or EEA (European Economic Area) country and can benefit from the same advantages as national citizens. In many areas, chartered surveyors are allowed to practise straight away, but some professional activities require prior recognition of qualifications. As not all qualifica-

20 - RICS Europe

For the first time, RICS was present during the meetings of EU ministers responsible for housing and urban development. During this meeting, which took place in Spain in June 2010, RICS stressed the importance of an integrated, sustainable approach in urban regeneration, as well as the current difficulties in acquiring finance.

Energy

After two years of intense debate, the recast of the Energy Performance of Buildings Directive (EPBD) has been finally published on 18 June 2010. The new legislation underlines the importance of creating an energy efficient building stock as a pivotal part in the creation of a sustainable environment.

The aim of the recast is to clarify, strengthen and extend the scope of the current directive, as well as to reduce the large differences between Member States’ practices in the building sector. Overall, its provisions cover energy needs for space and hot water heating, cooling, ventilation and lighting for new and existing, residential and non-residential buildings.

Water performance of buildings

What’s in store?

How to stay informed?

For the 2010/2011 business year, we will continue representing RICS at European level. Here are a few examples :

Valuation & financial services

On 28 October we organised a Valuation Conference in Brussels with panel discussions led by RICS President Robert Peto FRICS and RICS Europe Chairman Luciano Capaldo FRICS. The panels included RICS members from across Europe, as well as representatives from client organisations. At EU level, proposals are expected early 2011 on responsible lending and borrowing, with a specific focus on mortgage lending. RICS will watch this dossier closely, although it looks like there will be minimum impact on valuation requirements.

EU funding to develop a training package on energy efficiency

At the time of going to print, RICS was very close to receiving EU funding to develop a training package on energy efficiency measures in the residential sector. RICS is partnering with 11 other organisations to make this project a success, allowing RICS members to benefit from the training materials that will be developed.

The European Commission plans to issue a policy paper on water protection. One legislative option being considered by the EU is water efficiency standards for buildings. Binding rules could be envisaged to promote water savings in public and private buildings.

As an RICS Europe member, you should automatically receive our monthly newsletter, EU Connect. If you don’t, then please contact us and we will add you to our mailing list. For those of you who would like more information on a particular range of topics, we produce bi-monthly monitoring documents : • Valuation and Finance • Construction • Energy • Urban Development and Housing • Environment To receive any of the above, please let us know (euaffairs@rics.org) Contact : Sander Scheurwater, Head of EU Policy & Public Affairs at sscheurwater@rics.org or on +32 2 289 25 34 Website : www.rics.org/eu

21 Annual Review 2009/10

European housing campaign

RICS in the media

22 - RICS Europe

As a result :

Looking at the media coverage generated by RICS in continental Europe, it is clear that last year was very successful for our World Region. We were mentioned 2,056 times in the press in more than 20 different countries, exceeding our target by almost 40%.

• 52% of RICS exposure in Europe helped to raise RICS credibility, through the promotion of RICS economic analysis, market surveys, and spokespersons’ comments on the residential and commercial property sector. • 36% of the coverage profiled the organisation and the profession (stories on careers, the organisation and membership profile, RICS new governance model, regulation and ethics, EU influencing and the European remuneration survey). • The rest of the coverage promoted some of our key priority areas such as sustainability (8% of all coverage), including the RICS strategy on climate change, sustainability in the energy, valuation and urban sectors) and 4% on valuation.

In practice, this means that each and every day, national newspaper readers had the opportunity to read a story mentioning RICS. Also every month, readers of specialised property publications could find at least 44 stories mentioning the organisation.

We targeted both online and print media specialised in real estate, business and key national newspapers, especially in Belgium, Cyprus, France, Germany, Italy, the Netherlands, Portugal, Spain and Sweden (with 379 mentions in daily newspapers with a high circulation).

PR activities in Europe strengthened the profile and corporate brand of RICS across the region, by promoting economic surveys with a European or international scope, as well as communicating on careers and membership, professional standards and the new global corporate model (including news on corporate changes, nominations and the new European Boards).

As a result of some key pan-European campaigns, we were perceived by a broad audience as a leading actor on a significant number of key issues. A few examples of key campaigns are presented on the opposite page.

PR activities to promote the launch of the 2010 European Housing Review generated 120 high quality articles in the press - the campaign with the highest exposure of the year. It represented 45% of RICS Europe’s coverage generated in March. Most articles were long and proactively driven, very favourable and with a high circulation and Advertising Value Equivalent. After one-toone press briefings for key trade journalists in several countries, RICS Europe secured in-depth coverage in key publications across Europe. As a result, we successfully positioned the Review as the authoritative research on European housing and RICS as the source of knowledge in this area. The number of enquiries and comments received from members, journalists, professionals, academia, governments and EU institutions further to the launch, demonstrated the success of this campaign.

RICS Europe at MIPIM 2010

Financial Mirror Cyprus, etc. and also in well-known trade magazines such as Property EU, Vast Goed Markt, Property Magazine International, Monitor Immobiliare and Business Immo. MIPIM was an excellent place to meet journalists and release the 2010 RICS & Macdonalds’ European Remuneration survey. Five media interviews were organised in Cannes to promote the organisation’s vision on the future of cities, RICS membership in Europe, the role of RICS valuation standards and the Global Commercial Property Survey.

Sustainability

RICS’ vision towards climate change during the UN Climate Change talks in Copenhagen and members’ opinion on sustainability issues raised special interest in the press with almost 140 mentions. Contact : Laura Lindberg, Public Relations Manager RICS Europe at Llindberg@rics.org

RICS played a key role at MIPIM, generating during the week approximately 16 articles in the European press and enabling to promote RICS activities at MIPIM, obtaining very good media exposure in key national newspapers such as : Il Mondo, Les Echos, El Pais, Le Monde, le Nouvel Observateur,

European Property Market Remuneration Survey In collaboration with Macdonald & Company, RICS Europe will once again take the lead in investigating the way real estate professionals are rewarded in continental Europe. The survey will be available in English, French, German, Italian and Spanish. You will be invited by email to take part in the survey, the results of which will be presented at MIPIM 2011 in Cannes. It will also be available at www.ricseurope.eu

RICS Europe Rue Ducale 67 Hertogstraat B â&#x20AC;&#x201C; 1000 Brussels T +32 2 733 10 19 ricseurope@rics.org www.ricseurope.eu

Advancing standards in land, property and construction RICS is the worldâ&#x20AC;&#x2122;s leading qualification when it comes to professional standards in land, property and construction. In a world where more and more people, governments, banks and commercial organisations demand greater certainty of professional standards and ethics, attaining RICS status is the recognised mark of property professionalism. Over 100,000 property professionals working in the major established and emerging economies of the world have already recognised the importance of securing RICS status by becoming members. RICS is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity â&#x20AC;&#x201C; providing impartial, authoritative advice on key issues affecting businesses and society. RICS is a regulator of both its individual members and firms enabling it to maintain the highest standards and providing the basis for unparalleled client confidence in the sector. Since 1993, RICS Europe is headquartered in Brussels and has offices and staff across continental Europe.

Europe