Purchase of flat housing
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Flat housing, a purchase guaranteed by law

Buying Housing on flat It has been questioned. However, it is an option that is fully regulated. Contracts of sale on plan have the maximum legal guarantees for the consumer. All amounts delivered, without exception, are guaranteed by guarantee or surety policy, as set out in the Building Planning Law (LOE).

The Association of Builders Promoters of Spain (APCE Spain) has stepped out. Rejects the document prepared by the OCU on the purchase of flat housing. It considers that each and every one of the points mentioned as risks do not obey the usual practices of a highly professional sector.

In addition, the requirements that these types of sales contracts (flat housing) must meet are one of the most guaranteed legal documents in favor of the consumer / client of Spanish legislation.

Guaranteed amounts

Likewise, APCEspaña wants to emphasize that the return of all the amounts that are delivered on account of the purchase price, before the delivery of the home, plus legal interests, must be guaranteed. It can be done through a surety insurance contract signed with insurance companies, duly authorized to operate in Spain, or through a joint guarantee issued by duly authorized credit entities.

It is also important to note that the sale of a new home has guarantees established in the Civil Code and the LOE. They are covered by the developer and insurance companies:

  • For finishing defects, one year
  • For habitability, three years
  • For structural defects, ten years

On the other hand, the promoter may only receive the amounts anticipated by the acquirers through credit institutions. They will have deposit in a special account, with the separation of any other kind of funds belonging to the promoter, including the assumption of communities of owners or cooperative society, and which may only be available for the care derived from the construction of housing.

Advantages for the buyer

As APCE emphasizes, the sale of new housing implies a series of advantages for the consumer. For example, to facilitate the deferred payment of the price of the house and the personalization of the houses adapting to the needs of the buyer. It also entails an improvement in the quality requirements of the homes prior to the entry into force of the CTE (Technical Building Code). These requirements focus on the habitability, accessibility and efficiency of the homes. This increases the quality of life of users and saves up to 80% in the energy bill.

Given the interest, we reproduce the Press Release of the Association of Construction Promoters of Spain (APCE Spain).

In addition, in the following post, We leave you some of the steps you should follow in the purchase on plan.

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