The City Council approves the purchase of a property in Ciutat Vella with 11 homes that will be used for social rent

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 building, at Arai Street number 3, in the heart of Gòtic, will allow to expand the supply of public housing in a particularly dense area lacking in social rental supply.

The government commission today gave the green light to the purchase of the 11-apartment building located on Arai Street (Gothic Quarter) for 3.97 million euros. The property, owned by the Clínic Foundation for Biomedical Research and the University of Barcelona, will be used entirely for social rental housing.

Seven of the 11 flats already have tenants. The 4 houses left will become part of the council’s social rental stock market.

The municipal government has also approved an estimated investment of 1.78 million euros to carry out the refurbishment of the building, which also consists of three premises and three warehouses. It is a building with a built area of 2,114 square meters altogether. It is planned to rehabilitate the main and rear facades, interior courtyards, waterproofing the roof, and the cleaning and painture of the premises. It is also planned to install a lift. The houses will also be completely rehabilitated, with the possibility of expanding the number of available homes to 18.

Ciutat Vella councilor, Jordi Rabassa, recalled that they had been neglected by the property for twenty years. After the latter’s death, the building passed into the hands of Generalitat, which, according to Rabassa, “disregarded the tenants and their situation”. “We now guarantee that these people will be able to stay at home, and we will offer the rest of the housing to those who need it through the social rental exchange.” “We continue with the clear will to bet that Ciutat Vella is a space for residents. In this way we collect the demands of the neighborhood associations and entities, which have been mobilizing for years to resolve this situation “, he concluded.

More public housing

The purchase and subsequent refurbishment of this building will allow the immediate expansion of the number of public housing units in the Barri Gòtic, in Ciutat Vella, which is very lacking in this kind of offer. In the specific case of the seven families who already live there, this operation will allow their permanence in the neighborhood to be guaranteed. These families signed a lease in the late 1980’s and early 1990’s.

This purchase operation to expand the Ciutat Vella public park is in addition to others recently made by the town hall in the district. Such as the agreement with a private owner of a building on Carrer Sant Climent, in the Raval district, because the The city council is rehabilitating it in exchange for maintaining a social rental contract with the tenants.

Also, in the middle of last year, it was also agreed to sell a private building in Barceloneta, pending rehabilitation, in order to enable 11 flats for social housing for a period of 15 years.