House valuation in Spain: how it works, who does it and why it matters

A valuation (tasación) is a professional assessment by a qualified expert to establish a property's market value or its value for mortgage purposes. It's compulsory to get a mortgage in Spain, and very useful in sales, inheritances and auctions.

The valuation method

The method most widely used for housing is the comparison method: the valuer looks for comparables (testigos) from recent sales or listings of similar properties in the same area and adjusts for differences in floor area, condition, floor level and orientation. The valuation figure is the result of that comparative analysis, not the asking price on the market.

Why the valuation can come in below the agreed price

If the bank values the property below the price agreed with the seller, it will only lend you 80% of the valuation. You have to make up the difference out of your own pocket. This is common in markets where prices are rising fast or in areas with few comparables.

Who can issue a valuation

For a mortgage valuation, only Sociedades de Tasación (valuation companies) approved by the Bank of Spain (TINSA, Tasaciones Inmobiliarias, Gloval, etc.). For private, non-mortgage valuations, the professional associations of architects and expert valuers can also issue expert reports.

Check the value before you bid: On RadarPro, every auction asset includes an AI-based estimate of its market value. Also read cadastral value vs market value.