Before the end of this year, the Barcelona City Council will launch a financial fund to purchase properties housing iconic local businesses that are at risk of disappearing. This measure aims to prevent the closure of long-standing businesses that are part of the city’s identity and culture.
This proposal responds to complaints from residents about the gradual replacement of local businesses with large international chains. The goal is to shield these businesses from the problems stemming from real estate pressure, rising rents, and gentrification.
City Hall supports this initiative, citing the city of Paris, which has been implementing similar policies for a decade. However, at this time, neither the exact dates nor the financial figures related to this fund are known.
What has been outlined is the procedure: in collaboration with the Generalitat de Catalunya, the law will be amended to allow city councils to exercise a “right of first refusal” and have priority in the purchase process if any owner of a strategic commercial space puts it up for sale. This amendment by the Generalitat will allow other municipalities besides Barcelona to apply it in the same way.
