Apr 24, 2013 · ROB1305
No. A property is taxable and therefore an NIE is compulsory.
Apr 25, 2013 · SpainExpat member
Hi Doster, the NIE is required for all kind of investment in Spain. Otherwise there is a new reform law of immigration planned that will give a residence permit for the foreigners who would buy a property for 160 000 euros.
What many foreigners don't know is that nowadays already exist different alternatives to obtain a residence permit for those who acquire a property in Spain ( non lucrative residence, Shengen visa of a long duration)
http://www.tas-consultoria.com/blog-en/