New Appraisal Regulations in Spain: Real Impact of Order ECM/599/2025

Since August 12, 2025, the new appraisal regulations in Spain, enacted through Order ECM/599/2025, have definitively transformed the real estate valuation market. Now, in April 2026, investors and owners are experiencing firsthand how these changes affect asset values and bank financing capacity.

At Alquilujo Internacional, we analyze the real impact of this regulation so you can make informed decisions in your wealth strategy, especially if you are looking for productive assets with verified returns.

Crucial Changes in New Appraisal Regulations Affecting the Market

Order ECM/599/2025 imposed greater transparency and technical rigor, substantially modifying how the market value of a property is calculated under the new appraisal regulations.

• Terraces and balconies out of usable area: Outdoor spaces such as terraces, balconies, and patios are no longer included in the main usable surface area. This has adjusted downward the appraised value of many premium homes, aligning it more closely with actual interior livable space.
• Total transparency in reports: Appraisers must now justify every variable and explicitly break down storage rooms and garages. The “black boxes” in valuation have been eliminated, homogenizing criteria among entities.
• Energy certificate as a key valuator: Energy efficiency is no longer a secondary datum but a determining factor. Homes with high ratings (A or B) maintain their appraised value better, rewarding sustainability over inefficient assets.
• Agility in new construction: The regulation facilitated the appraisal of developments in early phases through prior urban licenses, speeding up mortgage financing for developers and new-build buyers.

Impact of Order ECM/599/2025 on Financing and Asset Sales

Beyond technical valuation, the new appraisal regulations have direct implications for asset liquidity. By excluding exterior surfaces from the main calculation, some properties have seen their mortgage guarantee value reduced. However, this has created an opportunity for investors seeking commercial and industrial assets, where valuation is based more on cash flow (profitability) than on mere built surface area.

For sellers, it is crucial to understand that a market price may diverge from the bank appraisal value. At Alquilujo Internacional, we help you navigate this discrepancy through a real value analysis based on current market data, not just regulatory formulas.

The New Standard for Real Estate Valuations in 2026

The consolidation of Order ECM/599/2025 has created a more reliable market. Although it initially generated downward adjustments in some residential typologies, it ensured that the appraised price reflects the real and homogeneous value of the asset. The official integration of regulated automated valuation models (AVMs) has reduced human subjectivity and accelerated due diligence processes.

If you are thinking of selling or buying, we recommend reviewing our guide on premium housing and residential tourism, where we explain how to adapt your strategy to this new valuation environment.

At Alquilujo Internacional, we integrate these criteria into our due diligence. We ensure the valuation aligns with the new regulatory reality to avoid surprises in financing or final price negotiation.

Contact us for expert advice on real estate strategy adapted to the current new appraisal regulations in Spain.