Half the new trade fair site in Montjuïc to be for public uses

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.

Urban planning. The update to the current urban plan will adapt current uses at the site to meet the needs of local neighbourhoods, with more public housing, facilities and green zones.

The urban planning proposal for the trade fair site in Montjuïc earmarks half the space there for public housing and facilities, green zones and places to stroll in. The historical buildings on the site will be renovated to give them new public uses, with the transformation due for completion during the centenary year of the site in 2029.

While 100% of the space is currently used for trade fair activity, the project proposes reducing this to 48% and devoting the rest of the space for community uses. The new distribution envisages 500 public homes and facilities such as a new primary healthcare centre, a centre providing assistance for the elderly and people with functional diversity, a library, a community space, a sports hall and the extension to the MNAC.

The proposal also enlarges green spaces and pedestrian areas to improve environmental conditions, enabling users to stroll there and engage in everyday activity. Mobility is another aspect set to change. A main thoroughfare will connect the neighbourhoods of Poble-sec and La Font de la Guatlla and Av. Paral·lel with Montjuïc.

The project also looks to improve mobility, giving the streets of Lleida and Mèxic one-way traffic systems and turning Av. Reina Maria Cristina into a central axis for people and public transport.

Boost for trade fair activity

Regarding economic activity, the ground floor premises of the housing blocks will be used for new local commercial establishments. Fira Barcelona’s own activity will be better integrated into the urban layout and focus on small and medium-scale events. The site will have six exhibition spaces and areas devoted to enterprise, innovation and knowledge transfer in sectors linked to the institution’s main congresses.

The new spatial organisation for the site responds to demands from local people, gathered through a participatory process over the last few months. The proposal will be taken before the Commission for Ecology, Urban Planning, Infrastructures and Mobility for initial approval next Tuesday.