Catalonia will limit the use of housing by law to curb excessive profits in the real estate market. The budget agreement between the regional government and the Comuns includes a legal amendment that will require new apartment purchases to be used only as primary residences or for rent at regulated prices.
The reform of the urban planning law will be ready within a maximum period of six months. With this move, the administration seeks to prioritize the right to housing over speculative movements. The measure will particularly affect municipalities declared as stressed areas, where access to housing is more difficult for the population.
Restrictions on large property owners
Owners of five or more properties will be prohibited from purchasing apartments for speculative purposes. These large property owners will only be able to buy houses if they can prove before a notary that they will live in them. To do so, they must register at the new property within one year.
If these owners acquire entire buildings, the regulations will require them to offer the homes exclusively as affordable rentals. The aim of this measure is to drive investment funds seeking quick profits through uncontrolled price increases out of the market.
Rules for small owners and inheritances
Those who own fewer than four houses will have a slightly wider margin. They will be able to buy properties for their own use, for a relative up to the second degree, or to rent out. However, in the latter case, the price will always respect the limits set by the official index.
With regard to inheritances, the law will only allow the owner to keep one second home. If a citizen receives more properties through inheritance, they will be legally obliged to rent them out. On the other hand, the law will protect the purchase of a second home in a municipality other than the usual one, provided that it is not used for tourist purposes.
Millions in fines and municipal control
The new legal framework will toughen penalties to prevent fraud. Buyers who simulate legal transactions to avoid their status as large holders or who do not comply with the use declared before a notary will face penalties of up to €1.5 million.
The practical application of these restrictions will fall to local councils. The councils of the 271 municipalities under pressure will have the power to approve urban plans to veto speculation. If a municipal government decides not to act, civil society will have mechanisms to demand the implementation of these protective measures.
40% of apartments owned by large holders
In the Catalan capital, the relevance of this measure is significant, as it is estimated that some 107,539 rental apartments belong to large holders, according to the Metropolitan Housing Observatory (O-HB). Other estimates put the figure at 184,111 properties in total in the hands of owners with five or more homes, representing 23.2% of Barcelona’s housing stock.