Spanish Property Market Coming to Terms with NIE Number Rule Changes

Puerto Portals Mallorca

So for those who are looking at Spanish property investment or just buying a holiday home in Spain in 2012 a rule change will that almost went unnoticed could well change your plans for the buying in Spain this year.

The rule change I refer to is the fact that you now have to appear in person to obtain your NIE number which you must have before you can buy a property here in Spain. You can do this by either attending a police station in person or if you are not in Spain by visiting the Spanish Consulate. This is a major change as before January 2012 you could give power of attorney to you Lawyer who would go and get your NIE number for you just as I did back in 2012. However you can still give power of attorney to your Lawyers to complete the purchase for you without you having to be here in person

So how does this rule change effect overseas property buyers in Spain? The reality is that for most people it just adds some extra time which in a lot of cases is an extra day. We have put a system in place with our recommended lawyers that cuts it down to half a day but obviously for those buyers who just want to fly in view the property put a deposit down and leave it’s an inconvenience they could do without which means they will need to stay an extra day. Also it causes a problem where someone views at the weekend.

We recently had clients who made a decision to buy and returned to Australia not realizing they needed to get their NIE numbers but now they will have to either come back or make a trek to the Australian consulate or pull out of the purchase. Its cases like this that highlights the problem that this simple rule change could have on the property market in Spain.

So if you’re looking at investment property in Spain or a Spanish holiday home please bear in mind to allow that extra time in your schedule.

If you want any further information on NIE numbers in Spain please feel free to contact me

Spanish property investment

investment property in Spain