Regulations

Regulations

On this page you can consult the various rules of law that are applicable in Spain and that affect the valuation sector, especially the appraisal of immovable property. The following should be highlighted: 

- Law 2/1981, of 25 March, on Regulation of the Mortgage Market, which established the bases for creating the figure of officially approved appraisal companies. 

- Royal Decree 775/1997, on the legal scheme for the official approval of appraisal services and companies, which sets forth the requirements for officially approving companies engaged in the appraisal of immovable properties in the mortgage market. 

- Ministerial Order ECO 805/2003, of 27 March, on the valuation standards of immovable property and on specific rights for certain financial purposes, which regulates the methodologies and procedures for drafting appraisals for the mortgage market. 

Other specialized, legislative databases in the financial system include that of the Confederación Española de Cajas de Ahorro (Spanish Confederation of Savings Banks), which also presents the original standards and the various updates thereof, in addition to the database of the Spanish Mortgage Association and that of the Bank of Spain.

Links to Legislation are structured as follows:

1. Basic legislation on the Spanish mortgage market

2. Regulation of appraisal companies

3. Valuation standards

4. Valuation obligations that affect credit institutions and Sareb

5. Other applicable standards in Spain

6. Standards under the process of Consultation

Links