Spain faces a renewed clash between professionals whose work underpins the mortgage market and large companies that control property appraisal processes. The Spanish Association of Mortgage Appraisers (AETH) has announced an extension of its strike, which began back in December, and warns it could become indefinite. The cause is chronic underpayment, with specialists forced to work at break-even rates, and a complete lack of dialogue from employers.
The decision to extend the strike was made at a general assembly of the association on January 7. The impact now threatens not only individual transactions but also entire bank portfolios. While the strike previously affected only part of the market, it now risks causing a widespread halt to mortgage operations that could last until mid-February, or even longer if a compromise is not reached.
Roots of the conflict
Appraisers say their work is compensated at rates unchanged since 2008, despite tougher requirements and a growing workload. In some cases, they receive only a fifth of the amount paid by the end client. According to AETH representatives, this situation threatens not only the quality of appraisals but also the stability of the entire mortgage lending system.
Professionals report constant pressure: tight deadlines, increasing reporting requirements, yet pay remains unchanged. As a result, many are forced to work at a loss, which reduces motivation and, in turn, increases the risk of valuation errors. This could ultimately lead to serious problems for banks and their clients.
Demands and Proposals
The association has put forward several specific demands. First, to align compensation with real expenses, set minimum rates to ensure specialists earn a fair wage, and regularly adjust them for inflation and changes in legislation. Additionally, appraisers are calling for transparency in working conditions, clear payment deadlines, and compensation for business travel.
Another key issue is ensuring specialistsβ independence. Appraisers are demanding the right to refuse unfeasible orders, as well as guarantees that contracts will be made directly with appraisal companies, not banks. To resolve disputes, a special commission including representatives from both sides has been proposed.
Market Reaction
While employers remain silent, banks are closely monitoring the situation. The market is already feeling a shortage of up-to-date appraisals, which is slowing down the issuance of new mortgages and property transactions. Families and entrepreneurs planning to buy a home or refinance are forced to wait, while some deals are falling through due to the inability to obtain timely valuations.
Dissatisfaction is growing within the professional community, with many ready to go all the way if their demands remain unanswered. The association does not rule out that the strike could become indefinite if employers refuse to compromise. This could trigger a protracted crisis in the real estate market and spark a chain reaction in the banking sector.
Possible consequences
Experts warn that if the situation remains unresolved, Spain could face severe disruptions in the mortgage market. Without high-quality, timely valuations, banks will be unable to issue loans and buyers will be unable to close deals. In the long term, this threatens to slow construction, weaken housing demand, and increase social tensions.
For now, both sides are holding firm as the market holds its breath, waiting for a resolution. Appraisers are showing a rare unity for Spain and are ready to defend their rights to the end. The only question is who will blink first in this drawn-out contest of nerves.
Recall that the Spanish Association of Mortgage Appraisers (AETH) brings together professionals engaged in property valuation for banks and other financial institutions. The organization was established to protect the interests of industry specialists, raise quality standards, and ensure transparency in the market. In recent years, AETH has been actively advocating for reforms in the compensation system and the improvement of working conditions for appraisers across the country.
