El sistema de tasación hipotecaria en España. Una comparación internacional

Miguel Ángel López () and María Matea Rosa
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Miguel Ángel López: Banco de España

No 2010, Occasional Papers from Banco de España

Abstract: The 2008 crisis evidenced that real-estate appraisal for mortgage lending is key to financial stability. This paper focuses on describing the Spanish mortgage-lending appraisal system and comparing it with those used in other advanced economies. A wide range of appraisal models is used. The model used depends, inter alia, on the relative importance of the real-estate sector in each country. For instance, there are countries in which the appraisal profession is unregulated and there are no rules on the use of a specific methodology, the model reports are not standardised, the appraisers are not certified and the sector is self-regulated. Others, by contrast, Spain included, have drawn up standards establishing the valuation methodology, the model appraisal report, and the requirements for incorporation and certification of appraisal companies. These countries also have a national supervisory authority.

Keywords: mortgage-lending appraisal; appraisal companies; valuation standards; appraisal report; supervisory mechanisms; microdata (search for similar items in EconPapers)
JEL-codes: E51 G21 G28 L85 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2020-05
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Persistent link: https://EconPapers.repec.org/RePEc:bde:opaper:2010

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