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KLEV&VERA > Real estate

Barcelona Real Estate Investment

Investment in the Barcelona commercial real estate market has weathered the storm of COVID pretty well, especially when compared to Spain’s other large market, Madrid. In the first half of 2021, Barcelona accounted for 80% of commercial real estate investments in Spain. This is according to the commercial real estate consulting firm Cushman and Wakefield. Barcelona’s continued success in real estate investment is a testament to the work done in the past as well as the outlook for the future. Much of the commercial real estate success is centered around Barcelona’s “22@,” an urban renewal zone in the Poblenou neighborhood. This...

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What is the right of usufruct?

A usufruct is a real, non-saleable and non-inheritable property right that grants another person - the usufructuary - the right to make use of one or more assets which belong to someone else - the main proprietor - and to earn income such as rent from it without owning it himself. A usufruct is a combination of the two property rights usus and fructus. Usus refers to the right to use something directly without damaging or altering it. Fructus refers to the right to enjoy the fruits of the property being used, which basically means profiting from the real property by leasing it,...

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What rights do tenants have in Spain?

Spain has recently updated its urban lease law to prohibit certain clauses found in rental contracts. While these types of provisions are now prohibited, many lease contracts still contain them. For such contracts, these provisions will be null. It is important to know them when you see them. Duration of the Lease In the wake of COVID-19, many lessors have tried to convert vacation rentals into more permanent residencies with vacation rental time periods. These time limitations are generally null and void. Renters for contracts of less than five years have the opportunity to extend their lease regardless of constraints the lessor...

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