Organisations get the use of municipal land to expand the housing stock

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.

Housing. The 373 flats to be built include the first co-housing projects for the elderly and people with intellectual disabilities, as well as the first rental cooperative.

Collaboration with organisations is being stepped up to increase the housing stock through leaseholds on municipal plots of land and buildings for renovation. Construction work starts on 373 flats next year, including the first co-housing blocks for the elderly and people with intellectual disabilities, plus the first rental cooperative.

Collaboration with non-profit organisations, foundations and cooperatives in the sphere of housing is aimed at creating another thousand flats on municipal land in the next few years.

A first stage will see the execution of:

Seven co-housing developments with 144 flats.
Five developments with flats to rent, with 229 homes.

Collaboration to multiply affordable housing

Organisations will get leaseholds of 99 years. Once the building costs have been paid off, they will have to pay the established fee and devote 50% of the income generated to new housing projects promoted by organisations on municipal land or buildings to be renovated.

What is co-housing?

Co-housing is the association of people in a cooperative which builds or renovates a building where they can live paying a membership quota at below-market rates, for between 50 and 100 years. The system also promotes community living and management.

The City Council stimulates the promotion of co-housing projects through leaseholds on land and by offering conditions for projects to get off the ground.