Four of the most prestigious property consultants in Spain have joined forces to create “la Asociación Española de Consultoría Inmobiliaria (ACI)”. This is roughly translated as the Spanish Association of Property consultants”

It is made up of Aguirre Newman, Jones Lang LaSalle, Knight Frank and CBRE. They claim they will offer, professionalism, transparency and stability to the property profession in order to avoid many of the errors committed in the past.

One of their aims is to create value in this key industry within the Spanish economy.

In a recent statement, they have challenged the competence of auditors and bankers and suggest a fresh approach is needed, with limited risks, identifying growth over a medium or long-term period. They suggest the market might have bottomed out, and that there is a possible change in the market indicated by serious interest from international investors.