Housing cooperatives improve physical, mental, emotional and community health

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.

Collective ownership strengthens housing and financial security, while communal living fosters trust, happiness, and a sense of belonging among residents. These conclusions were drawn from a study conducted by the Barcelona Public Health Agency on 12 cooperatives across Catalonia.

Housing conditions are a key determinant of health, according to the results of the ‘Vivienda cooperativa y salud’ research project by the Barcelona Public Health Agency (ASPB). The study examined whether Catalonia’s right-to-use housing cooperative models could improve the health and well-being of residents. The main findings suggest that this collective housing ownership model has a positive impact on physical, mental, emotional and community health.

The right-to-use housing cooperative model is gaining traction across Catalonia. Home ownership is collective and is accessed through a non-profit cooperative established by the residents themselves. They pay a usage fee to live there, but they can’t sell the property, thus providing housing at below market prices and helping to prevent speculation.

This housing and financial security may account for improved physical health and well-being and healthier habits and behaviours. Mutual aid also helps to improve people’s well-being and the physical conditions of their homes, such as energy efficiency and thermal comfort. In terms of mental and emotional health, the study found a reduction in stress, anxiety and loneliness.

Barcelona’s Viure plan and the push for housing cooperatives

Plan Viure, which promotes the creation of protected housing, supports this housing model through the Cooperative Housing Committee, a working group within the Barcelona Social Housing Board. To ensure access to affordable and decent housing, efforts are underway to develop housing through the Municipal Institute of Housing and Rehabilitation (IMHAB), as well as through delegated promotion to third parties.

One way housing cooperatives in Barcelona are expanding is through the transfer of public land to these cooperatives. In 2015, the first two pilot projects were launched in Calle de la Princesa and Calle de la Constitución (La Borda), with a total of 33 homes. Subsequently, developments in La Xarxaire, La Balma, La Chalmeta and Cireres were also added, with 92 homes already completed.

6 more developments are currently under construction in Barcelona, bringing the total to 156 homes, with an additional 5 projects in various stages of development.