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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.​

Barcelona City Council submits the keys of 9 new social rental homes in the Gracia district

26/07/2022 - 13:07

Housing. Gentrification and the scarcity of municipal land make Gracia one of the districts with the most real estate pressure

Barcelona City Council has handed over the keys to new social rental houses on a building bought in the Gracia area. The Councilor for Housing and Rehabilitation, Lucía Martín, and the Councilor for the district of Gracia, Eloi Badia, have welcomed the new awarded neighbors during the handing over keys event on the same terrace of the building.

The housing councilor explains that the scarcity of municipal land in the Gracia neighborhood makes very difficult to offer this kind of housing in the district, but the alternative of buying is being worked on. “What happens in this district is about there is no land to build on. For this reason, one of the strategies that we have implemented especially here, it is to buy homes that are already built. And that is what we did with this estate,” says Martín.

Affordable rental on Torrent de les Flors

The building, located on Torrent de les Flors street, is made up of 11 flats; 10 flats have 2 bedrooms and they can reach up to 75m2, and another one is measuring 120m2 which has 3 bedrooms. This state also has 10 parking spaces and 3 storage rooms. Three houses have been set aside for people under 35 years of age, one house for single-parent families, two houses for people living in the surrounding neighborhoods (Vila de Gràcia, Camp d’en Grassot, Gràcia Nova, La Salut) and three houses for the general contingent. The affordable rent of the awarded houses through the Register of Applicants for Official Protection Housing of Barcelona will be between 440 and 550 euros monthly payment.

“It is a neighborhood that is undergoing a lot of gentrification, which means that the traditional Gracia’s residents have to leave because they cannot afford the current rental prices,” insists Eloi Badia. And he defines this social rental awarded housing’s estate as ‘small oases’: “Because it happens very rarely due to the fact that we have very few buildings in Vila de Gracia”.

Happiness among the new awardees

The new awarded neighbor, Gala Duran, has been living in Gracia’s district all her life. And she comments: “We have friends who have been on the lists for five years. But we signed up a year ago, and, a month ago, we received the call about we were the lucky winner of a house. We are very happy because it was difficult to stay in the neighborhood”.

The new awarded neighbor and father of a family, Jaime Garcia, affirms that he signed up for the Registry of Housing Applicants in 2020, as a result of the pandemic. “I saw that there was a draw on June 9. But you never expect these things go to you. It was a surprise because, furthermore, we are next to Sant Genís neighborhood where we are from and where we used to live until now.

On the other hand, Fatima Prieto, she is also a new neighbor in Torrent de les Flors, has been on the Registry lists for eight years. “Each year I have been renewing and fulfilling the requirements. The truth is that these waiting eight years have been worth it. It’s like you win the lottery,” she declares.

The IMHAB exercises the right of preemption and buyout

The Municipal Institute for Housing and Renovation (IMHAB) bought this property for 4.9 million euros, 18% below the market price, exercising the right of preemption and buyout. The right of preemption and buyout is an urban planning tool that allows the City Council to intervene in a sale of residential buildings between private parties. This is one of the two purchased estates in Vila de Gracia during 2021, altogether with the other one on Camprodón street. Both in Gracia ‘s district.

The Councilor for Housing, Lucía Martín, claims that if the City Council had not bought this building on Torrent de les Flors Street, surely the price to rent these homes would be double or triple. “We are not only expanding the city’s affordable housing stock to have more municipal houses; but we are also managing to lower prices in over swamped neighborhoods with a lot of real estate and price pressure“, she concludes.