Tanca Tanca

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.

Close glossary

Housing offices only offer face-to-face assistance by prior appointment, so check out the “Housing calls you” service here to receive the most appropriate personalised assistance. If you also need assistance in energy rights, book an appointment with an energy-advice point (PAE) by clicking here. On the other hand, if you reside in an IMHAB public dwelling you can consult our contact, management and processing channels here.​

Thirty cases brought for non-compliance with the law regulating rent prices

10/05/2021 - 12:46

Housing. Fines for housing advertising platforms and property management companies.

Recent months have seen the Anti-harassment Disciplinary Unit at the Municipal Institute for Housing and Renovation (IMHAB) bring 32 cases against parties advertising housing and property. The proceedings brought are for non-compliance with the Catalan law on containing rents, by not citing the reference price index for the homes offered. The cases initiated may lead to fines of up to 96,000 euros.

The law regulating rent prices establishes that in areas where the market has been declared as under strong pressure, as is the case with Barcelona, rent prices may not differ by more than 5% to the prices set out in the corresponding reference index nor exceed the price in the previous rent contract. The law also requires that all housing publicity must include the reference data, to avoid homes being rented out at above-market rates.

In terms of fines for setting rents higher than the reference index and previous contracts, rises of less than 20% are considered minor infringements, while rises in excess of this figure are considered serious infringements and carry a minimum fine of 9,000 euros.

Three cases executed and fines paid

In, all, sixteen housing ads have been detected for homes in Barcelona where the obligation to cite reference prices and previous prices was not met. Ten of the ads were published in the property website Idealista, five were on the site Fotocasa and one on the site Habitaclia. In response, Fotocasa and Habitaclia have now established systems on their sites to warn those placing ads about their duty to include the reference index, as well as providing information for users.

For each case brought against an advert, proceedings have been brought to fine the property management companies for the homes in question. In three cases, the respective property agents have recognised and accepted the infringement, paying the corresponding fine. The rest of the cases are either still pending the receipt or resolution of initial challenges or are at the resolution proposal stage.

 

Share this content