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Decree-Law 2/2025, of February 25, extends the right of first refusal and retraction in favor of the Generalitat, which it had in relation to properties from auction, to all transfers affecting homes located in stressed areas of Catalonia.
In what case is there a preferential right of acquisition?
The Generalitat can exercise the right of preferential acquisition of all transfers of homes in stressed areas, which are owned by large holders (except new construction intended for individuals for their own use). The right is configured, first of all, as a right of first refusal, which requires communication prior to transmission, becoming retracted in the event that the previous communication has not been made correctly, or the conditions of the same have not been respected.
Requirements to be considered a great property holder
According to Law 12/2023, of May 24, for the right to housing, a large holder is considered to:
- Legal entities that are the owners of more than 10 urban residential buildings located in the territory of the State, excluding garages and storage rooms
- Natural or legal persons who own 5 or more properties located in municipalities declared as a stressed residential market area.
In addition, those who have a built area of more than 1,500 m2 intended for residential use, excluding garages and storage rooms, are considered a great holder.
Calculation of properties in singular cases
The law considers a “large holder” to be one who has rights over real estate that allows ordinary use, enjoyment or administration. As a consequence of this, in principle (and at the expense of what the administrations and courts may be resolving), today for today:
Properties in community situation
In the case of co-ownership, it will be decisive if you own a percentage of ownership of more than 50%, or if you own 50% or less. If a person owns 50% or less of a property (for example, 25% or 50%), he cannot decide on the use or enjoyment unilaterally: the majority of co-owners is required.
For this reason, these shares are not calculated in any way (either totally or partially) as “a property” for the purposes of the threshold of 5 or 10 floors (for example, if a person owns 50% of two floors, they are not added to consider that he has one more floor for the purpose of calculating the properties of his ownership).
However, although they do not count for the number of properties, they do count proportionally for the calculation of 1,500 m2 of built area (for example, if a person owns 50% of a 100 m2 apartment, 50 m2 will be considered for the calculation of the total area of properties owned).
On the contrary, if a person has more than 50% of a property (and with it the majority and the decision-making power), he will compute for the purposes of calculating the number of floors as an entire floor; while for the calculation of the 1,500 m2 of built surface, the percentage of meters corresponding to him will continue to be computed based on his percentage of ownership.
Properties in Usufruct/nuda property according to ownership
Properties in bare ownership: they are not calculated for any purpose (neither for the threshold of 5 or 10 floors, nor for the calculation of the 1,500 m2) because it does not confer the use, enjoyment or ordinary administration. Usufruct: the property is computed for all purposes, because the usufruct is the real right that confers the use, enjoyment or ordinary administration on the property.
How the procedure is executed
The notary cannot authorize any transfer of a house located in a stressed market area, if it is not previously accredited to him: That, in his case, the transferor is not a big property holder. To this end, the Notary will request a certificate from the Land Registry, which resulted in the properties owned by the seller, which have the character of residential, and may only grant the deed if there are less than five in a stressed area, or ten in total.
If the status of grand holder is recognized, the notary could not authorize the deed, without the accreditation of having notified the transmission to the Generalitat, and the proof of the reply of the Generalitat expressing its intention not to exercise its right of first refusal, the verification of having elapsed the period of 60 calendar days from the notification to exercise the right of first refusal and retraction.
When does this new law come into force?
The extension of the preferential acquisition right is effective from February 27, 2025.
