New NIE procedure 'won't affect Spanish property market'

The new regulations relating to obtaining a Numero de Identificacion de Extranjero (NIE) in Spain won't have an adverse effect on the property market.

This is the opinion of Chris Mercer, of real estate agency Mercers, who believes, while the bureaucracy may be frustrating, it won't put serious buyers off.

Since January 3rd 2012, all foreigners have been required to attend the local police station in person to receive an NIE - an identity number for tax purposes - which is needed to buy or sell property in Spain.

Before this year, it was possible to send a lawyer in your place by signing a power of attorney.

Mr Mercer commented: "Admittedly, it can be a hassle, but if people are pre-warned and prepared they simply accept it."

He added most people "don't mind a few tedious hours at a police station to get the home of their dreams".

It appears Brits are still keen to purchase real estate in Spain, after a recent survey conducted by A Place in the Sun magazine at two of its exhibitions revealed the nation is the top choice among many potential buyers looking for a home overseas.

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