Essential Real Estate Terms to Know in Spanish
Whether you’re thinking about investing in Spanish real estate or applying for the Spanish Golden Visa program, knowing a few basic real estate terminology in Spanish can be quite helpful. Your ability to successfully and confidently navigate the real estate market will increase with a basic awareness of these phrases.
We will look at a few typical real estate terms in Spanish and their definitions in this article!
1. Inmueble/Propiedad
In Spanish, the word for “Property” is Inmueble or Propiedad. This definition includes all kinds of real estate assets, encompassing houses, apartments, office buildings, and raw lands.
2. Bienes Raíces
“Bienes Raíces” is the Spanish equivalent for “Real Estate,” incorporating all kinds of real estate, be it residential, commercial, or industrial.
3. Casa
Casa simply means “House” in Spanish. It describes a solo residential structure, usually made for a single family.
4. Apartamento
Apartamento translates to “Apartment” in English. It describes a standalone dwelling unit that is a part of a bigger structure or complex.
5. Piso
In Spanish, Piso has a dual meaning. It could imply a “Level” or “Floor” within a building but it is often used to denote an “Apartment”. Consequently, based on the context, it could refer to either an apartment unit or an actual floor.
6. Edificio
Spanish for “Building” is edificio. It includes any building with numerous floors or levels, whether it is residential, commercial, or mixed-use.
7. Alquiler
Alquiler is equivalent to “Rent” in English. It means the act of renting or leasing a property, typically for short durations.
8. Venta
Spanish for “Sale” is venta. It signifies the act of purchasing or selling a property. The cost, state, location, and market demand of the property are only a few of the variables that affect the venta process.
To come to an acceptable purchase price and the terms of the sale, buyers and sellers may participate in negotiations. Legal contracts are frequently used, guaranteeing that both parties are safeguarded and that the ownership transfer is properly recorded.
9. Hipoteca
Hipoteca makes mention of a “Mortgage.” It is a loan that is backed by real estate and is frequently used to finance real estate purchases.
The hipoteca procedure entails the buyer submitting an application for a mortgage loan, supplying the required financial records, and going through a credit review by the lender. The borrower and the lender agree on the hipoteca’s terms, which cover the loan’s principal, interest rate, length of repayment, and monthly installments.
10. Inquilino
Inquilino is the Spanish word for “Tenant.” It describes a person who leases or rents a piece of property from a landowner.
You have the right to occupy the building and make use of the space as an inquilino for the duration of the agreed-upon lease agreement. But you must also take care of your obligations, such paying rent on time, keeping the place in good repair, and abiding by the conditions stated in the lease.
11. Propietario/Dueño
In Spanish, the words “Owner” or “Landlord” are propietario or dueo. These terms designate the individual or entity possessing a property and holding the power to lease or sell it.
12. Agencia Inmobiliaria
The English translation of “Agencia Inmobiliaria” is “Real Estate Agency”. It designates a company or group that focuses on purchasing, selling, or leasing properties on behalf of customers.
13. Contrato de Arrendamiento
A “Lease Contract” is known in Spanish as a Contrato de Arrendamiento. A legally enforceable contract outlining the terms and circumstances of the renting arrangement exists between a landlord and a renter.
14. Value of Market
Valor de Mercado refers to the “Market Value” of a property. It represents the anticipated selling price for a property in the current market.
15. Impuesto sobre Bienes Inmuebles (IBI)
In English, “Property Tax” is known as “Impuesto sobre Bienes Inmuebles” (IBI). Property owners are obligated to pay a municipal tax based on the property’s estimated value.
16. Depósito
Spanish for “Deposit” is depósito. It alludes to a sum of money that a renter gives to a landlord as a deposit for any damages or overdue rent.
17. Tasación
Tasación represents a “Appraisal” in Spanish. It is the procedure for figuring out a property’s worth, which is often carried out by a licenced appraiser.
18. Seguro de Propiedad
The English term “Property Insurance” is Seguro de Propiedad. It alludes to an insurance plan that covers losses or damages to property.
19. Amueblado
Amueblado means “Furnished” in Spanish. It refers to a home that includes furnishings and other necessities for daily living.
20. Desamueblado
Desamueblado represents “Unfurnished” in Spanish. It describes a home that is empty of furniture or other necessary stuff.
21. Reforma
Reforma translates to “Renovation” in English. It describes the procedure of making considerable alterations or enhancements to a property’s physical features.
Final Thoughts
Remember that different Spanish-speaking regions may use different terms for real estate. Hence, it’s critical to seek guidance from local experts who have deep knowledge of the region’s real estate market, laws, and practices, like real estate agents or attorneys. By doing so, you ensure that you’re equipped with sound knowledge when dealing with Spanish real estate matters, allowing you to make informed decisions.
