Exchange of experiences between Barcelona and Hong Kong on public housing policies

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 Secretary of Housing of Hong Kong, Winnie Ho, visits Barcelona to learn about sustainable and innovative construction models in social housing.

A delegation from the Hong Kong government has visited Barcelona to share experiences on public housing policies. Headed by the Hong Kong Secretary for Housing, Winnie Ho, the delegation held a meeting with the Deputy Mayor for Economy, Housing, Finance and Tourism, Jordi Valls, where they analyzed the city’s initiatives in the construction of social housing and the promotion of sustainable construction with innovative technology.

In addition to meeting with the deputy mayor, during the visit the delegation learned about the APROP Glòries project, a block of modular housing built with containers, and a development of 72 public housing units for social rent in Ulldecona Street, in the Marina del Prat Vermell.

Exchange of experiences between Barcelona and Hong Kong on policies
Currently, Hong Kong, one of the world’s leading economic and financial centers, where approximately 30% of the population lives in public rental housing, is facing a high demand for public housing. To cope with the high demand, new technologies such as modular construction and robotics are being adopted to improve the efficiency, safety, sustainability and quality of buildings. The Hong Kong government’s goal is to provide 430,000 new housing units by 2022-2032, 70% of which will be public.

Jordi Valls stressed the importance of exchanging knowledge and best practices between cities to address the global challenges of housing, a problem that affects many metropolises around the world. This visit reinforces international collaboration to develop innovative solutions in the field of public housing.