Spanish Property Terms

From the Rights Group

Our colleagues at Overseas Property Professional have reported that Britons have spent £6 billion on second homes in last two years, based on new statistics from the UK Office for National Statistics. Apparently, Britons are spending £6 billion a year on the purchase of second homes – a staggering £4 billion more than two years ago.

We, at The Rights Group, felt it would be useful to put together a glossary of terms that we use everyday but which may be a little alien to would be property purchasers in Spain. We are constantly striving to increase the level of information available to Northern Europeans who may be attracted to the idea of buying in Spain but who may equally be daunted by the press in recent months which has portrayed our market as a den of thieves. Its not, particularly if you approach it with you eyes wide open – seek advice and assistance early in your quest for your dream property and making certain that the professional advice you receive is wholly independent.We hope you’ll find it useful.

Abogado – Lawyer Adosado - Semi-detached or town house Aire acondicionado – Air conditioning Agua/potable – Water /drinking water Albanil - Bricklayer Alfombra - Carpet Amortización - Depreciation, Redemption Antigüedad(es) / tienda de – Antique/Antique shop Aparcamiento - Parking Architecto - Architect Armario – Cupboard/wardrobe Assesoria Economica/Contable – Accountant Balcon – Balcony Banco/cuenta de/targeta de - Bank/bank account/bank card Bańo – Bath/WC Barbacoa – Barbecue Basura - Rubbish bins and rubbish taxes Bombilla – Light bulb Buzón - Mailbox Caja de Ahorros - Savings bank Calefacción central – Central heating Cargas – Land charges registered against the property Casa unifamiliar - Detached house Casita - Cottage Certificado registral - Certificate showing debts attaching to a property Chalet – Villa Cocina – Kitchen Comedor – Dining room Comunidad de propietarios – Committee of property owners Contrato de Builder – Constructor Compraventa Private - Property sales contract Constructor - Builder Construido - Built area, of property Construir - Build Costa del Sol – Sun Coast Costa del la Luz – Coast of Light Costa Blanca – White Coast Corriente or la luz - Electricity Cortijo - A country property inland with farming roots. Cuarto de Bano - Bathroom Documento privado - Private document Documento público - Public document Dormitorio - Bedroom Ducha – Shower Duplex – Apartment over two floors Ebanista /carpintero – Joiner Edificio – Building Electrician – Electricista El campo - The countryside Escayolista/Yesero - Plasterer Escritura - Deeds of ownership Escritura pública de compraventa - Title Deeds Euribor – Variable interest rate set by European banks Fontanero - Plumber Finca – Farm house or small estate Fin de Obra – Formal Completion of Works on a new property Fuente - Fountain Garaje - Garage Gas Butano – Butane gas often used for cooking and water heating Gestoría – Specialists used to obtain official authorisations, permits and licences Habitación – A Room Hipoteca - Mortgage Impuesto extraordinario sobre el patrimonio - Wealth Tax - extraordinary tax on assets IBI: Impuesto sobre Bienes Inmuebles - Property tax levied yearly Impuesto sobre el Incremento del Valor de los Terrenos - Tax on the increase of land value Impuesto sobre el patrimonio - Capital gains tax Incremento de patrimonio – A Capital gain ITP – Impuesto sobre Transmisiones Patrionales - Property Transfer Tax of 7% levied on all re-sale property. Inmobiliaria/agente - Estate agent Inversion en terreno - Land investment in Spain IVA – VAT Jardin - Garden Ladrillo – Brick Libre de cargas – Debt free Libro del edificio - Documents from the promoter when building is finished Licencia de prima ocupación – Licence to occupy a completed property Licencia de obra - Building permission Limpiadora – A Cleaner Madera – Wood Mármol - Marble Martillo - Hammer Metros cuadrados – Square metres – units floor area is measured in N.I.E. - Identity Number for Foreigners – required for a property purchase Notario - Notary – records the legal details of property and land sales Nota Simple - Certificate from Property Registry Obra nueva - Document certifying a new building Oferta vinculante - Bank document specifying mortgage conditions Ordenador – Computer Pago en efectivo - Cash payment Parcela - Lot or plot Pestillo – Door lock Pintor - Painter Piscina - Swimming pool Piso - Apartment Playa - Beach Plusvalía - Municipal Capital gains tax on the sale of property Poder – Power of Attorney Pozo - Well Préstamo/ con techo – Loan/with variable interests with fixed minimum and maximum Préstamo hipotecario - Mortgage loan Pueblo - Town or village Puerta - Door Registro de la Propiedad - Register of Property Ownership Representante fiscal – Foreigner’s official tax representative Resale Property – A second hand property, already registered at the property register in Spain. Residencia - Residency permit Residente - Resident Sala/salon - Lounge Se vende or en venta - For sale Se alquila – For Rent Sevillana - Electricity company Seguro de amortización de préstamos - Loan repayment insurance Seguro Multirriesgo Hogar - House insurance Señal – Deposit or down payment Solar - Lot for building Sótano – Basement Subasta - Auction Tasación - Independent valuation of property Tasa de cambio – Exchange rate Tasadores – Official Bank Valuers Techo - Roof Teja - Roof tile Terraza - Terrace Terreno - Land Terreno en venta - Land for sale Terreno - Plot of land Terreno para construir - Building land on the Costa del Sol Tipo de interés - Rate of interest Título de propiedad - Deeds stating the ownership of property, date of sale etc. Trastero - Storeroom Valor Catastral - Assessed value of property for tax purposes Vidriero – Glazier Yeso – Plaster © Compilation Mark FR Wilkins 2005 (Marbella) The Rights Group SL - E-mail - Web - www.therightsgroup.com Tels - 0034 600 343 917 - 0034 952 930 435

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