Signed at Cannes property show MIPIM, the agreement will enable both bodies to offer enhanced services to their members, says the RICS. The relationship will present opportunities for joint research projects, economic analysis, standards, information sharing and networking as well as enabling access to membership through accredited qualifications.

RICS President Peter Fall said: 'The highest standards of professional expertise and integrity are essential for success in today's global business climate. RICS is delighted to establish a closer working relationship with CRE, an organisation which shares its values.'

The RICS warmth for other countries went further. Today, it signed an agreement that will mean closer links with the South African Property Owners Association (SAPOA). This deal represents the, 'commitment of both bodies to work together to provide services to their members, to share information and research, and so enhance their contribution to the property industry in South Africa,' says the RICS. The move also reflects SAPOA's commitment to encourage the confidence of foreign direct investors in South Africa.