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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.

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Real estate portals offer higher-than-average rental prices

17/05/2019 - 09:19

Housing. The Metropolitan Housing Observatory presents a study in Construmat on rent in the Barcelona metropolitan area

The stand of the Municipal Institute of Housing and Renovation of Barcelona (IMHAB) at Barcelona Building Construmat, held at the Fira of Barcelona convention centre, was the scene of the presentation of data on rent supply and demand in the Barcelona metropolitan area. Data was collected by the Metropolitan Housing Observatory of Barcelona (O-HB) in collaboration with Fotocasa and Habitaclia.

The presentation was given by Carme Trilla, president of the O-HB, and Beatriz Toribio, director of studies for Fotocasa. As they explained, the prices of the rental market (as offered on the real estate portals) and the amount that is actually paid differ by 36.4% in the city of Barcelona and 29.05% in the metropolitan area.

According to the study, the average price of the Habitaclia portal in the second quarter of 2018 stood at 1443 euros per month in Barcelona, ​​while the price registered by Incasòl, based on the deposits from contracts, was 916 euros per month, a difference of 36.4%. The average price of Habitaclia compared to the rest of the municipalities in the metropolitan area averaged 1019 euros per month, while that of Incasòl fell to 732 euros (29.05% less).

The study was carried out as a result of the collaboration agreement between the OHB and the Habitaclia real estate portal with the Fotocasa team. By virtue of this agreement, the supply data published on Habitaclia was analysed according to queries made by its users. The data analysed corresponds to the period from the second quarter of 2017 to the second quarter of 2018. “Work was done on multi-family housing, and single-family homes were discarded,” Trilla said.

 

Rental prices have gone down in Barcelona, ​​but increased in the metropolitan area

In addition, the study notes that rental prices have gone down by 3% in the city of Barcelona, ​​while they have increased by 9% in the municipalities in the metropolitan area.

In some towns the increase was lower, such as Sant Cugat del Vallès, Sant Feliu de Llobregat, Sant Just Desvern, Viladecans, El Prat de Llobregat and Castelldefels.

 

74% of the demand is below 1,000 euros per month 

In the city of Barcelona, ​​the most requested rent prices were around 900 euros. Specifically, 74% of the demand was below 1,000 euros per month, while 32% of the supply corresponds to this price. In the rest of the metropolitan area, 92% of the demand was below 1,000 euros per month and the supply within this price limit was 70% of the total.

“Through our studies, we have seen the difficulty in access to rent that Spanish society experienced in 2017 and 2018. Demand fell by 40%,” added Toribio.

 

The duration of the announcements allows an analysis of supply and demand

A key element to analyse the degree of correspondence between supply and demand of rental housing is the duration of time that the ads are published. The offers with prices that are more adjusted to the demand go very quickly.

For example, in Barcelona, offers with an average price of €772 per month are only active between two and seven days.

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