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Housing Glossary

You will find information here on all topics relating to housing in Barcelona

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Accrued interest

The interest applied as a penalisation when the debtor does not comply with repayment obligations. The amount must be established in the contract.

Active supermortgage

This allows the client to choose their loan's benchmark index (MIBOR at three months, six months or a year) so that payment can benefit from lower interest rates sooner.

Adaptable instalment

Characteristic of UCI superloans that allow the borrower to not pay one instalment a year for the first three years if there are problems due to holidays, extraordinary expenses, etc.

Advanced cancellation fee

A commission arising from the financial risk involved in the advanced cancellation of an operation. The applied commission compensates the financial institution for its financial losses.

AEDE

Direct state aid for paying the deposit on a property.

Affordable housing

Group of social housing or dwellings from social renovation projects that are sold or rented at below-market prices.

Affordable rent

The cost of renting these dwellings is below market prices after being included in operations concerning the rented flat pool, social renovation or social housing promotions.

Amortisation

Payment made to repay a loan.

Amortisation period

The duration of the loan. The contract establishes the date of the first and last payments. The longer the period, the lower the payments are, but the higher the interest. You therefore pay more in the end. The monthly instalment should not exceed 35% of your net income.

API

Estate agent. A qualified professional who acts as an intermediary between the two interested parties to facilitate the signing of a real estate contract, which can be a rental agreement, a sales agreement or another similar contract. They usually charge a percentage of the sales price as compensation or commission.

Applicant

A citizen who makes a registration application to the Barcelona Social Housing Applicants Registry, and who represents the other members of the dwelling unit included in the application.

APR

Annual Equivalent Rate. Effective annual cost of the mortgage in terms of interest, commissions and the repayment period. To compare loans, it is not enough to just look at the lowest APR, you also have to compare the conditions, the repayment period and the distribution of instalment payments.

Arbitri municipal de plusvàlua

Former denomination of the capital gains tax on landed property.

Assessment

The value of a dwelling certified by a specialised assessment company, in accordance with the mortgage market law. This certificate not only indicates the real value of the property, it also serves as a reference for obtaining the necessary financing.

Authorisation

Document in which the owner authorises the tenant to carry out building work in the dwelling's interior.

Close glossary

Housing offices only offer face-to-face assistance by prior appointment, so check out the “Housing calls you” service here to receive the most appropriate personalised assistance. If you also need assistance in energy rights, book an appointment with an energy-advice point (PAE) by clicking here. On the other hand, if you reside in an IMHAB public dwelling you can consult our contact, management and processing channels here.​

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Building purchased via the right to first refusal in El Raval

Building purchased via the right to first refusal in El Raval

04/07/2024 - 11:36

Housing. The building consists of two commercial premises and nine homes.

The Government Commission has approved the purchase of a building in C/ Santcliment, in the neighbourhood of El Raval. The acquisition is to be made using the right to first refusal, whereby the City Council can acquire properties below market price to add to the public housing stick. The purchase involves an investment of 2.46 million euros, which includes an amount for renovating the building.

 

The block has a built floor space of 832 square metres and consists of nine homes, just one of which is rented at present, plus two ground-floor premises. The other eight homes will be made available with public rents.

According to the recommendation of specialists from the Municipal Institute for Housing and Renovation (IMHAB), the indoor spaces in the building will be renovated and the distribution of the homes altered with an investment of 1.66 million euros. The main façade has no major defects and the rear façade and rooftop were renovated in 2017, meaning no work will be needed there.

Right to purchase

The right to first refusal gives the City Council preference in purchasing buildings, enabling public housing to be added in densely populated areas where it is difficult to create new buildings. In the case of the building in C/ Santcliment, the purchase price of 800,000 euros is almost 5% below the average price per square metre in this neighbourhood, and 23% below the average for Ciutat Vella.

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