Update on RICS subscriptions 2024

One of our core commitments, following feedback from members, is to ensure our subscriptions model is simpler, fairer and clearer. Over the last few months, a collaborative programme of work led by RICS colleagues and member representatives has taken place to review subscription fees across our various member grades and global markets and consider the impact of any potential changes on both members and the Institution.

As this work continues, RICS Governing Council has decided there will be no changes to membership subscription fees in 2024. This decision has been made in recognition of the increasing cost of living across all member regions and the pressure this is placing on firms of all sizes. Work to establish a new subscriptions model that meets our commitment to members is ongoing and remains a priority.

To make it easier for our members to spread the cost of fees we have removed any additional Direct Debit charges incurred for those across applicable regions opting to pay in monthly instalments in 2024. Corporate Payment Schemes are also encouraged for firms with over five members to reduce administrative resource and costs for both the firm and RICS.

A new subscriptions model will incorporate our future strategy and priorities while following the new subscriptions framework approved by members at this year’s AGM. This framework sets out the process for approving subscriptions and the key information that the RICS Board will need to consider before providing its recommendations to Governing Council each year for approval.

For several years, Governing Council has opted not to increase subscription fees, despite the challenges of high inflation across all our regions and a global pandemic. RICS has so far absorbed significant additional costs brought about by these economic events, but this is not financially sustainable long-term.  

With careful attention to our future budget allocations, maintaining subscriptions at current levels for 2024 will support both the delivery of our transformation programme and the expansion of our initiatives across Sustainability and Diversity, Equity and Inclusion (DEI), both priority areas of focus for RICS. We will also continue to expand member engagement activities through quality member events and professional resources.  

We remain fully committed to delivering a simpler, fairer and clearer subscriptions model. The RICS Board will be making their recommendations to Governing Council on this in the coming months, to determine the subscriptions fee levels and model for 2025.