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Diccionario
inmobiliario

Términos clave del mundo inmobiliario explicados con claridad, en varios idiomas.

Contratos

Arras: Sum of money the buyer delivers to the seller as a sign of a future sales contract. Three types: confirmatory (part of the price), penal (penalty for breach) and penitential (allow withdrawal with loss or double return).
Contrato de arrendamiento: Private or public document by which the owner (landlord) grants use of a property to a tenant in exchange for rent. Regulated by the Urban Leases Act (LAU): minimum 5 years (7 if landlord is a legal entity) for habitual housing, with rent updates capped at CPI. Different from seasonal contracts (1–11 months) or tourist (1–30 days, subject to specific regulations).
Contrato de compraventa: Agreement by which the seller undertakes to deliver a property to the buyer in exchange for a certain price. It can be private (signed between parties without notary) or public (notarised deed). Only the notarised deed allows registration in the Land Registry, an essential requirement for ownership to be fully effective against third parties. In practice, the typical process is: deposit contract → public deed.
Exclusiva: Agreement by which the owner appoints a single real estate agency to sell the property for a defined period (typically 3–6 months). In exchange, the agency commits to an intensive marketing plan: professional photography, video, home staging if applicable, publication on premium portals and partner network. Exclusivity usually achieves a better sale price and shorter time on market than open listings, by concentrating expert effort.
Mandato de venta: Contract by which the owner formally entrusts a real estate agency with the management of the sale of their property. It defines conditions: duration, exclusivity or not, minimum acceptable price, fees, marketing plan, exclusions (the owner's own buyers) and information obligations. A professional mandate protects the owner (management transparency) and the agent (right to fees if an efficient cause exists). Always recommended in writing.
Señal / Reserva: Small amount (typically €3,000–€6,000) that the buyer delivers to the seller or agency to reserve the property for a short period (7–15 days) while the deposit contract is prepared. The reservation temporarily takes the property off the market. Usually refundable if the parties do not sign the deposit contract within the term, unless the buyer withdraws without justified cause. Private document, no notary required.

Derechos reales

Dominio: Most complete property right over an asset: includes the right to use it, enjoy its fruits and dispose of it (sell, donate, mortgage). In full ownership, the holder has all powers over the property. It may be divided into bare ownership (title without use) and usufruct (use and enjoyment), which reunite when the latter ends.
Nuda propiedad: Ownership right without the use or enjoyment of the property, which belongs to the usufructuary. The bare owner holds title but cannot use the property while the usufruct lasts. When the usufruct ends, the bare ownership recovers full dominion.
Propiedad horizontal: Legal regime applicable to buildings divided into flats or premises belonging to different owners, with common areas (stairs, facade, roof, installations). Regulated by the Horizontal Property Act (LPH). Defines the rights and obligations of the owners, how the community works (meetings, agreements, president, administrator), the division of expenses by participation share and the limits on individual owner's freedom of use.
Servidumbre: Property right that burdens one estate (servient) for the benefit of another (dominant) or of a person. Typical examples: right of way (crossing a property to access another), views, light, aqueduct (water passage), electrical line easement. Easements are recorded in the Land Registry and are an encumbrance that the buyer inherits when acquiring the servient estate. Before buying, always check the existing easements in the nota simple.
Usufructo: Right in rem allowing a person (usufructuary) to enjoy property owned by another, with the obligation to preserve its form and substance. In a home, the usufructuary may live in it or rent it out, while the bare ownership remains with the original owner.

Documentos

Carga registral: Any limitation, encumbrance or restriction on a property recorded in the Land Registry. Typical examples: mortgage, lien, easement, resolutory condition, right of first refusal or tax affection. Before signing the deposit contract, it is essential to request an updated nota simple to verify all encumbrances. Encumbrances follow the property, not the owner: if you buy a property with an uncancelled lien, you inherit it.
Cédula de habitabilidad: Administrative document certifying that a dwelling meets minimum habitability requirements to be occupied as a residence. Required to contract basic utilities and usually valid for 15 years. In the Valencia region it is called 'License of second occupation'.
Cédula urbanística: Document issued by the town hall containing the urban planning status of a property: land classification, buildability, permitted uses, alignment, setbacks and urban easements. Different from the habitability certificate. Essential for developers, investors and buyers planning to renovate, extend or change the property's use.
Certificado energético: Mandatory official document for sale and rental that classifies the property's energy efficiency on a scale from A (most efficient) to G (least efficient), assessing energy consumption and CO₂ emissions. Required to register the sale and must appear in any listing. On the Costa Blanca, properties prior to 2007 typically rate E, F or G; new builds since 2020 must reach class A or B. Lower class means higher energy bills.
Embargo: Judicial or administrative measure that links an asset (typically a property) to the payment of a debt. The lien is recorded in the Land Registry and limits the power to dispose of the asset until the debt is settled or the measure lifted. Before purchasing, an updated nota simple reveals active liens. Buying a property with an active lien exposes the buyer to enforcement by the creditor.
Licencia turística: Official authorisation issued by the Valencia regional government —called VV (Vacation Housing)— required to legally rent a property to tourists (stays of 1 to 30 days). Without a VV licence, tourist rental is illegal: fines from €2,000 to €600,000. Applied for via responsible declaration, fee €65.11, processing time 5–15 working days. Before buying for tourist rental, verify that the community statutes do not prohibit it.
Nota simple: Document issued by the Land Registry containing updated information about a property: ownership (who is the legal owner), registry description, current encumbrances (mortgages, liens, easements), marginal notes. Essential to obtain before signing the deposit contract: it lets you verify the seller is the true owner and the property is free of undisclosed encumbrances. Cost: €9.02 online at the Registry's website.
Poder notarial: Public document granted before a notary by which one person (grantor) authorises another (attorney) to act on their behalf in certain legal matters. Widely used by foreign buyers who cannot travel to Spain to sign: the power of attorney allows a lawyer or representative to sign the purchase, the mortgage or any procedure on their behalf. Requires the Hague Apostille if granted outside Spain + sworn translation if in another language. Typical cost €80–€250 at a Spanish notary, more at consulates.
Registro de la Propiedad: Official public institution that registers the ownership and encumbrances of properties in Spain. Registration provides legal certainty to the buyer: after the public deed before notary, the purchase must be registered for the buyer to be recognised as owner against third parties. There are Registries by territorial demarcation; each property is registered in a specific one. Procedures such as the nota simple, mortgage registration and cancellation of encumbrances are managed here.
Tasación: Technical valuation of the market price of a property carried out by an appraisal company approved by the Bank of Spain. Mandatory for granting a mortgage: the bank finances up to 70–80% of the lower of appraised value and purchase price. Cost: €300–€500 paid by the mortgage applicant. Different from the technical inspection (which evaluates the physical condition). Valid for 6 months from issue.
Vivienda de uso turístico (VUT): Administrative category designating a property intended for short-stay tourist rental (1–30 days). In the Valencia region, equivalent to the VV (Vacation Housing) licence. Requirements: habitability certificate, minimum equipment, energy certificate, complaint form, not being in a declared saturated zone, and no prohibition in the community statutes. The massive presence of VUT in specific areas has generated debate about tourism saturation and housing prices for local residents.

Financiación

Cap Rate: Capitalisation rate: key metric in real estate investment measuring the annual net return of a property relative to its purchase price. Calculated as (Net annual income / Purchase price) × 100. On the Costa Blanca, typical Cap Rates range between 4–6% for long-term rentals and 6–8% for vacation rentals. It is the fundamental metric for comparing investment opportunities.
Cashflow inmobiliario: Net cash flow generated by a rental property: rental income minus all expenses (mortgage, IBI, community fees, maintenance, insurance, taxes, management, vacancy). It can be positive (the property generates monthly profit) or negative (the owner contributes capital expecting future appreciation). On the Costa Blanca, modest positive cash flow is achievable with moderate financing in high-demand vacation rental areas such as Torrevieja or Calpe.
Dación en pago: Legal mechanism by which the debtor delivers an asset (typically a property) to the creditor to settle a debt, usually a mortgage. In Spain it is not automatic: the bank must accept it and there are specific conditions regulated by the Code of Good Practices (insolvency exclusion threshold). Different from eviction: here the debtor voluntarily delivers the property and the debt is fully cancelled. Useful when the property value covers the outstanding debt.
Euríbor: Interbank interest rate at which major European banks lend money to each other in euros. It is the most widely used benchmark for variable-rate mortgages in Spain. Your variable monthly mortgage payment is calculated as Euribor + spread (typically +1% to +1.8%). Published daily and reviewed every 6 or 12 months according to the contract. In 2026 the 12-month Euribor stands around 2.5–3%, after peaks above 4% in 2023.
Hipoteca fija, variable o mixta: The three main mortgage types in Spain. Fixed: constant interest rate throughout the loan's life, predictable instalment (2026 APR between 3.2% and 4.5%). Variable: instalment tied to Euribor + spread, reviewed every 6 or 12 months (riskier if rates rise). Mixed: fixed rate for the first 5–10 years + variable thereafter. The choice depends on your time horizon, risk tolerance and rate expectations.
Hipoteca para extranjeros: Mortgage loan offered by Spanish banks to individuals without Spanish tax residence. More conservative conditions than for residents: up to 70% of appraised value or purchase price for EU/EEA non-residents, up to 60–65% for non-residents from other countries. Fixed rates in 2026 between 3.8% and 4.5%. Enhanced documentation: NIE, income proof, asset statement, tax residence certificate.
Rentabilidad bruta: Basic performance indicator of a real estate investment: annual rental income divided by the purchase price, expressed as a percentage. Does not deduct expenses (IBI, community fees, maintenance, management, taxes). On the Costa Blanca, average gross yields in 2026 are: Torrevieja 7.4%, Pilar de la Horadada 6.2%, Calpe 5.1%, Moraira 3.8%. Useful for comparing opportunities quickly, but net yield is the decisive metric for real investment.
Rentabilidad neta: Real return indicator of a real estate investment: annual rental income minus all expenses (IBI, community fees, utilities, cleaning, maintenance, insurance, management, taxes), divided by the total acquisition cost (price + taxes + purchase costs). On the Costa Blanca, typical net yield is 50–70% of gross. A bungalow in Torrevieja with 7.4% gross may yield 3–3.5% net. This is the metric that tells you how much you actually earn.

Impuestos

IBI (Impuesto sobre Bienes Inmuebles): Annual municipal tax on real estate ownership. The amount is calculated on the cadastral value and varies by municipality (between 0.4% and 1.1% of the cadastral value). Paid by the owner as of January 1st each year.
ITP (Impuesto de Transmisiones Patrimoniales): Regional tax levied on the purchase of second-hand properties. In the Valencia region, the general rate is 10% on the registered price. Reduced rates apply in some cases: 8% for habitual housing for buyers under 35 (with max price €180,000), 4% for large families and disabled persons. Paid by the buyer within 30 days of signing. Not applicable to new builds (which pay VAT + AJD).
Plusvalía estatal (IRPF): Tax on the capital gain obtained from selling a property, managed by the State Tax Agency. For tax residents it is integrated into the IRPF at 19–26% according to the scale. For non-residents (form 210/211) the rate is 19% (EU residents) or 24% (other countries). If the seller is non-resident, the buyer withholds 3% of the price (form 211) as a payment on account. Exemptions exist for reinvestment in habitual housing (residents) and persons over 65.
Plusvalía municipal: Local tax (Tax on the Increase in Value of Urban Land) levied on the transfer of urban properties. Paid by the seller (unless otherwise agreed) within 30 days of signing. Calculated on the cadastral value of the land and years of ownership. Following the 2021 Constitutional Court ruling, it only applies if there is a real increase in value between purchase and sale; the taxpayer can choose between the objective and real methods.
Valor catastral: Administrative value assigned to each property by the General Directorate of the Cadastre, based on objective criteria (location, surface area, age, construction quality). It serves as the basis for calculating several taxes: IBI, municipal capital gains, imputed income (form 210 for non-residents). Typically between 40% and 60% of real market value. Updated periodically through municipal valuation reports. Found in the latest IBI letter or consultable online at the Cadastre's electronic office.

Otros

Agente inmobiliario: Authorised professional who acts as intermediary between buyer and seller (or landlord and tenant) in real estate transactions. In the Valencia region, the activity is regulated by the Real Estate Agents Registry (RAIC). Registered agents must hold mandatory professional liability insurance and accredited training. Clients can verify the agent's RAIC number before hiring.
Gastos de comunidad: Monthly fees paid by owners in a building or development for the maintenance of common areas and services: cleaning, gardening, pool, lift, concierge, administration, community insurance, reserve fund. On the Costa Blanca they range from €30 (simple building) to €250/month (premium development with all services). Before buying, request the administrator's certificate with current fees and any pending levies.
Home staging: Technique for preparing a property to optimise its sale or rental: depersonalisation, furniture reorganisation, minor aesthetic improvements, neutral lighting and decor designed to appeal to the maximum number of buyers. Professional studies in Spain show that a home-staged property sells 15–30% faster and at a price 3–8% higher. Typical investment: €800–€2,500 for an average home.