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The Parliament Rejects the Regulation of Temporal Rentals in Barcelona

The Government Fails to Gain PSC Support for a Decree that Rendered Midterm Rentals in Barcelona Economically Unfeasible

Impact of Rejected Temporal Rental Laws on Barcelona's Real Estate Market

This morning, the Permanent Deputation of the Parliament of Catalonia rejected the validation of a decree law that the Generalitat approved in April. This decree regulated temporal rentals in Barcelona, making them economically unfeasible except for recreational or cultural events. Basically, temporal rental laws in Barcelona have changed for the better, and back to how they were. This is a huge advantage to investors and keeps the market truly 'free'. The Executive Council of the Generalitat approved the decree on April 24, with the Parliament already dissolved. However, they did not negotiate it with the PSC or Junts per Catalunya. ERC needed the support of at least one of the two groups to move it forward. Despite adding the votes of the Comunes and the CUP to their own, they couldn't validate the decree. They only achieved the PSC's abstention against the rejection of Junts, PP, Ciudadanos, and Vox.

Political Reactions to Temporal Rental Regulations in Barcelona

Ester Capella, the acting Minister and main promoter of the decree, criticized the rejection. She argued that it "clears the way for speculation and fraud" and distances the Parliament from defending housing as a citizen's right. Mònica Sales, spokesperson for Junts, suggested that "temporal housing needs regulation, but not like this. And we need to listen to the sector." The PSC initially reproached ERC for their initiative. They considered it "more electoral than governmental," in the words of their spokesperson, Lluïsa Moret. Moret criticized the Republicans for making "proposals that have not been agreed upon or debated in parliament." Junts per Catalunya opposed addressing the housing problem solely through regulation. Their number three, Josep Rull, called the decree a "monumental blunder" and criticized the decision as smelling of electoralism.

Key Provisions in the Temporal Rental Laws in Barcelona

The decree introduced a new article in the 2007 Catalonia Housing Law. This article establishes that leases for various purposes will be considered ordinary housing leases, subject to rent control. The decree also regulates the maximum rent for room rentals. It stipulates that the rent for all elements of the property cannot exceed the maximum price set by law for the complete property rental.

Current Status of Temporal Rentals and Room Rentals in Spain

In Spain, there is currently no regulation for room rentals. Temporal rentals are excluded from the LAU. They are governed by the Civil Code, with conditions left to free agreement between the parties. The Minister of Territory, Ester Capella, defended the need to regulate this type of midterm rental. She argued it was necessary to close the "loopholes" in the Spanish housing law. These loopholes have led to an increase in temporal rentals in Barcelona to evade rent control.

If you'd like some free Barcelona Real Estate advice just reach out to us!

Here at SuiteLife we've been helping people buy, sell and rent properties in Barcelona for over 15 years. If you'd like any advice or a free consult to see how we can add value and profitability to your endeavours, you can reach out to Benny at any time at benny@suitelife.com or on whatsapp on +34 615 38 47 45. Cheers! Benny

Unlock the Spanish Golden Visa through Real Estate Investment in Barcelona and Spain

Chapter 1: The Spanish Golden Visa - A Coveted Prize

Introducing the Spanish Golden Visa: The Spanish Golden Visa is an exclusive program designed to attract high-net-worth individuals and their families to invest in Spain. As an esteemed investor, it's not just an ordinary residency permit but a 'Golden Visa,' which provides you with numerous privileges. With this visa, you can relish the rich culture, stunning landscapes, and vibrant lifestyle that Spain offers while also enjoying the benefits of being a resident.

Why is it Coveted?

The Spanish Golden Visa program is highly sought after for several reasons:

• Residency Perks: The program grants you and your family members the right to reside in Spain and travel freely within the Schengen Area.
• Quick and Streamlined Process: The application process is straightforward, ensuring that you get your visa with minimal hassle.
• Investment Opportunities: To obtain this visa, you can invest in real estate, one of the most secure and potentially lucrative investment options.
• Access to World-Class Healthcare and Education: As a resident, you gain access to top-notch healthcare facilities and world-class education for your children.
• Cultural and Lifestyle Benefits: Spain is known for its rich culture, vibrant lifestyle, and favorable climate, making it an ideal place to call home.

Chapter 2: Barcelona - The Jewel of Spain's Crown

Barcelona, the capital of Catalonia, is a city renowned for its exquisite architecture, sandy beaches, and a thriving arts and culture scene. This coastal metropolis offers the perfect blend of modernity and tradition, making it a prime choice for real estate investment.

Real Estate in Barcelona

Barcelona's real estate market is a unique blend of historical charm and contemporary elegance. Owning a property here is not just an investment; it's owning a piece of the city's soul. From the historic neighborhoods of the Gothic Quarter to the modern luxury apartments along the beachfront, Barcelona offers a diverse range of properties for discerning investors.

Chapter 3: The Spanish Real Estate Advantage

Why Real Estate is the Key: When it comes to obtaining the Spanish Golden Visa, real estate investment is the most popular and secure route. Here's why:

1. Stability and Security: Spain's real estate market is relatively stable, offering a safe haven for investors.
2. Potential for Appreciation: Over the years, property values in Spain have shown a consistent upward trend, offering the potential for significant appreciation.
3. Rental Income: If you're not planning to reside in your property year-round, you can rent it out, generating a steady stream of income.
4. Diverse Property Types: From historic homes to modern penthouses, Spain's real estate market caters to various tastes.

Chapter 4: The Spanish Golden Visa Through Real Estate Investment

Investment Criteria: To be eligible for the Spanish Golden Visa through real estate investment, you need to meet specific investment criteria. The primary requirements include:

1. Minimum Investment: You must invest a minimum of €500,000 in real estate. However, if you're considering Barcelona, the investment threshold is often higher due to the city's higher property prices.
2. No Financing: You should finance the investment with your own funds, meaning no loans or mortgages.
3. Clean Criminal Record: You must have a clean criminal record both in Spain and in the countries where you've resided for the past five years.
4. Health Insurance: It's essential to have private health insurance covering Spain.

The Application Process: Applying for the Spanish Golden Visa through real estate investment involves a few key steps:

1. 1. Property Selection: Choose your desired property, ensuring it meets the minimum investment requirement.
   2. Purchase and Documentation: Complete the property purchase and gather the necessary documents, including proof of investment, background checks, and health insurance.
   3. Application Submission: Submit your application to the Spanish consulate or embassy in your home country.
   4. Residence Authorization: Upon approval, you'll receive a residence authorization allowing you to reside in Spain for one year.
   5. Renewal: After the initial year, you can renew your visa, ultimately leading to permanent residency and citizenship.

Chapter 5: Barcelona's Real Estate Gems

Exploring Investment Opportunities in Barcelona: Barcelona offers a diverse range of real estate opportunities for investors. Here are some of the key areas to consider:

1. Eixample

Eixample is known for its grid-like layout, showcasing stunning architecture. It's a prime location for luxury apartments and historic properties.

2. Gràcia

Gràcia offers a more relaxed, village-like atmosphere. It's a charming area with a strong sense of community and numerous unique properties.

3. Sarrià-Sant Gervasi

This upscale district is known for its beautiful homes and proximity to international schools, making it popular among families.

4. Barceloneta

If you dream of a beachfront property, Barceloneta offers a beachy lifestyle with numerous options for waterfront apartments.

5. Poblenou

Poblenou is an up-and-coming area with modern apartments and a thriving tech scene. It's a favorite among young professionals. These are just a few of the many neighborhoods in Barcelona that offer unique real estate investment opportunities. Your choice depends on your preferences and investment goals.

Chapter 6: The Benefits of the Spanish Golden Visa

Obtaining the Spanish Golden Visa through real estate investment brings a multitude of benefits:

1. 1. 1. Residency in Spain: You and your family can enjoy living in one of the most vibrant countries in Europe.
      2. Freedom to Travel: The Spanish Golden Visa grants you access to the Schengen Area, allowing you to explore 26 European countries without additional visas.
      3. World-Class Healthcare: Spain boasts an excellent healthcare system, ensuring you and your family receive top-notch medical care.
      4. Quality Education: Your children have access to high-quality education, including international schools in Barcelona.
      5. Lucrative Real Estate Investment: Your property can generate rental income or appreciate in value over time.
      6. Cultural Riches: Immerse yourself in Spain's rich history, art, and culture.
      7. A Place to Call Home: Enjoy the Mediterranean climate, stunning beaches, and a relaxed lifestyle.

Chapter 7: The Application Process in Detail

Let's delve into the Spanish Golden Visa application process, step by step:

Step 1: Property Selection

First, you'll need to choose a property that meets the minimum investment requirement. Many investors opt for properties in Barcelona, given the city's allure.

Step 2: Purchase and Documentation

Complete the property purchase and gather the necessary documentation, including proof of investment, background checks, and health insurance. This phase requires meticulous attention to detail.

Step 3: Application Submission

Submit your application to the Spanish consulate or embassy in your home country. This step involves filling out the necessary forms and providing the required documentation.

Step 4: Residence Authorization

Upon approval, you'll receive a residence authorization that allows you to reside in Spain for one year. During this period, you can make the most of your investment and experience life in Spain.

Step 5: Renewal and Beyond

After the initial year, you can renew your visa, eventually leading to permanent residency and the possibility of Spanish citizenship. Spain welcomes you to become an integral part of its rich tapestry.

Chapter 8: Tips for a Successful Spanish Golden Visa Journey

As you embark on your journey to obtain the Spanish Golden Visa through real estate investment, consider these tips for a smoother and more successful experience:

1. 1. 1. Consult with Experts: Seek guidance from real estate professionals and legal experts who specialize in the Spanish Golden Visa.
      2. Research Property Carefully: Thoroughly research the property you intend to purchase and ensure it meets the investment criteria.
      3. Plan Your Finances: Have a clear financial plan to ensure you can comfortably meet the investment requirements.
      4. Be Diligent with Documentation: Pay meticulous attention to documentation, background checks, and health insurance to avoid delays in the application process.
      5. Embrace the Spanish Lifestyle: Immerse yourself in the local culture and community to fully enjoy your time in Spain.

Chapter 9: Conclusion

The Spanish Golden Visa is a gateway to a world of opportunities, offering you the chance to call Spain home while securing your family's future. With its simple application process, stunning real estate options, and a wealth of benefits, it's no wonder this program is coveted by investors worldwide. Barcelona, with its real estate gems and rich culture, stands out as an ideal destination for this exciting journey. Unlock the Spanish Golden Visa, and make your dream of Spanish residency a reality. Here at SuiteLife, we have helped 100's of clients purchase a property in Spain as part of their golden visa process. If you have any questions at all, we'd love to chat with you, to answer your questions, give you free advice, and guide you on your adventure!

How to negotiate when buying a property in Spain - 12 Tips from a Professional Home Buyer

Buying a property in Barcelona, for international and expat investors, can sometimes seem like a jungle or the Wild West. There is probably a lot less regulation and transparency than what you are used to. 

So you’re thinking about buying a home in Barcelona. Would you like to make sure you use the best negotiation tactics in order to squeeze the most value out of your hard earned money? Then this guide should provide you an excellent overview of how to do that.  

My name is Benny, and for 15 years I’ve been helping my clients buy and sell apartments in Barcelona and Spain. 

My most popular service is called Real Estate Personal Shopper, where I guide our clients through the whole process so they find the property of their dreams at the best price possible, and save time, money, and potentially costly mistakes. A safe and clean buy is of the utmost importance to our clients. 

Here is the most valuable advice I can give you on how to negotiate the purchase price of property in Barcelona and in Spain in general: 

1. Arm yourself with market info, comps, etc..: 

Appraising a property in Spain is more of an inexact art than a science and many times the property you like will be inaccurately priced. It helps to run some numbers in order to better defend your offer.  

The more you can defend your offer, the stronger your negotiation will be. 

You want to know how many days the property has been on the market.

Find comparable properties listed at lower prices.

Find prices of actual recent sales in the same building or on the same street in the registry (something we have access to for our clients). Armed with all of this you’ll have a much stronger position.

Also remember, many times properties are priced by taking the average price per m2 and multiplying it by the number of m2 the property has. However, from the perspective of an investor, you want to look at the potential rental yield and reverse engineer the final price in relation to the expected ROI you want to receive (approx 5% gross is good). Sometimes mocking up these ‘investor’ numbers will give you a lower price point and an intriguing defence to make a more aggressive offer.   

2. Use any improvements the property might need to bargain:

Try and stay away from a common but not very effective way of negotiating, which is listing your personally perceived faults of the property. Meaning, “I’m offering X because there are only 3 rooms instead of 4 and I really wanted something with 15m2 more space, and there’s not that much natural light…so it’s not really my perfect flat”. 

The flat is what it is, and in my experience this type of strategy both offends the seller and is not very effective. 

Instead, look for valid things that you might need to invest into the property. There might be building works that need to be done in the future. The flat might have outdated systems or installations. The bathroom and kitchen might be dated. 

3. D D DILIGENCE:

Doing due diligence is of the utmost importance when buying a property in Barcelona. First, in order to see if there are any problems that will cost you money in the future and/or make the deal not as interesting to you. Secondly, info we get from diligence can often be used to further negotiate the purchase price. 

Some of the things you want to look into are: 

- That the property has all of it’s documentation in order like the ‘cedula de habitabilidad’ (zoning permit). 

- That the building has passed it’s ITE (technical inspection). That there aren’t costly future works that need to be done (those will eventually be partly paid by you).

- That there isn’t an ‘affectation’ of the building in the city’s urban planning. This can be a very serious problem for several reasons. Many buildings in Barcelona are marked with these zoning issues. Theoretically they could one day be torn down by the government. The property owners are forced to sell at a government set price.

- It’s good to see the last few minutes or ‘actas’ from the community meetings to see in general what is going on and if there are debts by other owners in the building and if there are future costs or ‘derramas’ planned. 

- The ‘nota simple’, which is the updated record of the flat in the registry, which will show you wether the flat has any debts against it, what type, etc…

The more info you have the stronger your potential bargaining position will be, but you need to know how to use this info in your favor.

4. Play it cool: 

This might seem obvious but I think it’s worth mentioning. I’ve seen clients fall in love and start giddily praising the property and everything about it with stars in their eyes. Needles to say, that doesn’t really help you in terms of negotiating a price. 

When you find the right property you usually know right away, it’s sort of a gut feeling. 

But if this happens to you, you should play it cool, don’t let on that you just found “THE one”. You don’t have to be aloof. Play it cool. Let them know it could be an option and that you have other options to see. This will help you setup a more effective roadmap for negotiating the price.  

5. Slow and steady does NOT win the race:

You should do all the preparation before hand so when you see the flat you like you can act quickly. Having a reserve payment ready to send with the reserve offer sheet for example. 

Where you can find a lot of bargaining power is if you’re either a cash buyer (not using financing). Or if you have a pre-approval on your financing. Venders are often interested in a ‘fast close’ and the faster you can close the more leverage you’ll have. You might say “I’m able to pay 80% of the asking price, but we’ll be signing in notary and you’ll have the full amount in 7 days”. Not always, but sometimes that really moves the needle. 

6. More deposit = more interesting:

Not everyone can buy a property without financing in cash. One thing you can do that is effective is to offer a higher deposit or ‘arras’ payment. “I’m able to pay 80% of the asking price. However I'll be able to pay you 15-20% in the arras contract (the standard arras payment is 10%). We’ve found this works well because venders are motivated by getting more of the total price up front. Of course this also depends how motivated they are in general to sell.  

Which leads us to our next advice…

7. Determine motivation as much as possible:

Why is the vendor selling? Did they just buy a new home and need to sell this one? Are they getting divorced? Is it an inheritance between siblings the they want to liquidate asap? How long has the property been on the market? How many price reductions has it had? Have there been other offers? If so why were they not accepted?

The more you can play detective and find the answers to these questions the better you’ll be able to gage how motivated (read desperate) the vender is to sell and hence how much you can push on a price reduction. 

Asking polite but direct questions to the listing agent can often get you quite a bit of info. In the end, he or she is trying to close a sale. Often they are surprisingly forthcoming with info to facilitate this end. 

8. Your actual offer: 

How much margin there will actually be depends on quite a few factors. As a very general guideline, a 5-10% offer under ask is aggressive but reasonable. Especially if you can back it up with the right arguments and strategy. Of course how hot the property is, how long it’s been on the market, and the vender’s actual level of motivation will also come into play. 

Throwing out low ball offers doesn’t tend to work too well and can be counter productive in Spain. You run the risk of offending the vendor and having them not take you seriously or doubt your credibility.

Of course sometimes a price seems almost too good, and there are instances when this is the case. Usually it is the result of a very motivated vendor. If you analyse a deal and the price seems great, you can actually lose it by making any offer under asking. Sometimes it’s even worth putting in a very slightly higher offer in order to get a leg up on the competition and jump to the front of the line. 

9. Set a firm limit with the agent:

This might seam obvious but set a firm limit with the listing agent. They will feel they have gotten you to your best offer. Now they will work on bringing the owner down. Always in that order, though, because it's the vendor that pays them. 

10. Use a buyers agent to avoid conflict of interest: 

There are quite a few factors working against you when looking to buy a property in Barcelona. Not having proper representation is where we see buyers lose the most money. A real estate buyer's agent, or real estate personal shopper, as we call our service, takes away the inherent conflict of interest in the Spanish market, and ensures that you have a professional looking out only for your best interests. Simply put, it will save you time, money and costly mistakes.

11. What's the bottom line?:

Ask the listing agent for what they think the sellers bottom line might be.

I know this must seem counter-intuitive. I mean, who's going to tell you that?

They probably shouldn’t give up this info but you'd be surprised at how often they do so.  In the end the listing agent is trying to make a sale and get their commission. They often will let you know at least a range of the lowest the vendor will go. 

12. Make the right initial offer:

Your first offer will set the basis for the negotiation. Depending on the a milieu of things, your starting offer should be substantial. At the same time though it should be realistic and not offensive to the vender. 

I really hope I've given you some deeper perspective on purchasing a property and the best ways to negotiate in Barcelona and Spain in general. I'd love to hear your feedback in the comments or if there are tactics you think I should add. Have you had good luck in negotiating when you've bought property in Barcelona? If you'd like some free Spanish real estate advice I'd love to hear from you any time at benny @ suitelife dot com or text/whatsapp @ +34 615 38 47 45! ~Benny Mouckley