GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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23:20 May 1, 2019 |
Spanish to English translations [PRO] Law/Patents - Real Estate | |||||||
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| Selected response from: Charles Davis Spain Local time: 16:05 | ||||||
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Summary of answers provided | ||||
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4 +1 | Publicly sponsored and (Open-Market) unsubsidised housing > percentage levy |
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4 +1 | Other VPP (publicly subsidised housing) and free-market housing |
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Summary of reference entries provided | |||
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VPP |
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paso de vivienda protegida a vivienda libre (descalificada / desprotegida) |
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VPP (Viviendas de Promoción Pública) y Libres Publicly sponsored and (Open-Market) unsubsidised housing > percentage levy Explanation: To start the answers ball rolling.... Not Valor Patrimonial Proporcional, as ine the second web ref., as the equity element would - both in England & Wales and the US/Can., throw up an 'Equity of Redemption' of a mortgage (Scots: standard security) scenario. Having lived in Madrid in an area with old-era viviendas de protección pública, I find it somehwat surprising and incongruous that there could be such on (rather than in, unless underground like Cuevas de Drach) Majorca. Example sentence(s):
Reference: http://www.jubilacionypension.com/derechos-obligaciones/docu... Reference: http://eng.proz.com/kudoz/spanish-to-english/law-taxation-cu... |
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Other VPP (publicly subsidised housing) and free-market housing Explanation: (Obviously "subsidized" if you want American spelling.) This is complicated and I'm afraid it needs a lengthy explanation. The "Libres" part is relatively straightforward: "vivienda libre" (or "de renta libre") simply means (as Andy has indicated) standard private-sector housing, bought and sold freely on the property market and not publicly regulated: "La vivienda de renta libre es la tipología ‘al uso’, la que es promovida por una empresa privada y cuyo precio dependerá de las fluctuaciones del mercado; no está sujeta a los precios estipulados por las autoridades públicas." https://www.vivirentotana.com/2011/06/06/diferencias-entre-v... I think there are various terms you could use for it. "Free-market housing" seems to me a clear and accurate option, used here in a UK House of Lords debate, for example: "those dependent on social housing have suffered. This occurs because the profit margin on free-market housing estates has fallen, allowing less for the social sector" https://hansard.parliament.uk/lords/2019-01-31/debates/AE803... Or here in the NY Times: "Overall figures on free-market housing supply are hard to come by" https://www.nytimes.com/1985/02/24/realestate/the-free-marke... _______________________ But VPP is tricky and has to be taken with VPO. The social housing area in Spain is a minefield, with a host of acronyms and several changes of legislation. First of all, "VPP" does not refer to equity value. As Helena has said, it sometimes stands for "Vivienda de Promoción Pública": publicly developed housing, that is, public or social housing developed (built) by a public or state agency. That type of housing is relevant here, as we'll see, but it's not what VPP refers to. In this context, IVA/VAT rates on housing, it stands for "Vivienda de Protección Pública". I'll back that up in a moment. Well, "VPO" stands for "Vivienda de Protección Oficial". So what's the difference? This is where it gets really tricky, because "protección oficial" and "protección pública" mean the same thing. It's simply that VPO is the older term and VPP is more recent: "Las viviendas llamadas VPO son Viviendas de Protección Oficial (hoy llamadas VPP, Vivienda de Protección Pública)" https://www.vivirentotana.com/2011/06/06/diferencias-entre-v... "La Vivienda de Protección Oficial (VPO, también conocida como Vivienda con Protección Pública o Vivienda Protegida)" https://es.wikipedia.org/wiki/Vivienda_de_protección_oficial So if they're the same thing, how come VPO carries 4% IVA and VPP carries 10%? The answer is that in this specific context VPO actually refers to just two specific types of social housing, and VPP refers to all other types. If we look at the IVA regulations on housing, to which Phil has alluded through a secondary source, this is what they say: "Los tipos impositivos establecidos actualmente son: > 10% con carácter general. > 4% cuando se trate de viviendas de protección oficial de régimen especial o de promoción pública." https://www.agenciatributaria.es/AEAT.internet/Inicio/_Segme... Note the second item: it only includes two specific types of VPO. "Con carácter general" means every other kind of housing apart from these. This is clarified by this following very useful source (from Madrid): "IMPUESTOS POR LA COMPRA DE VIVIENDA NUEVA Impuesto sobre el Valor Añadido (IVA) Tipología de Vivienda...........................................IVA - Viviendas con Protección Pública (VPP) y Vivienda libre..............................................10% del importe escriturado - Viviendas de Protección Oficial de Régimen Especial (VPO RE) - Viviendas de Protección Oficial de Promoción Pública...........................................4% del importe escriturado" http://www.comunidad.madrid/sites/default/files/doc/vivienda... As a general term for Vivienda de Protección Oficial/Pública (VPO/VPP), I would suggest "publicly subsidised housing". I would be inclined to avoid "state-subsidised", because it is often the autonomous community rather than the state. "Subsidised" is standard, as in this glossary: "VPO (vivienda de protección oficial) - subsidized housing, social housing" https://www.affidata.co.uk/sh/property-for-sale/spanish-real... And it's accurate, because the national or regional government does subsidise the developer to keep the price down; details here: https://es.wikipedia.org/wiki/Vivienda_de_protección_oficial... People do use the literal translation "protected housing"; the following is from a reputable international law firm (and it's a useful explanation): https://www.lexology.com/library/detail.aspx?g=80e828a5-768b... I think "protected" would be OK, though in the UK the term "protected housing" can refer to accommodation with support facilities for the elderly. _____________________ So "VPO", for IVA purposes, refers exclusively to two types, which we might call "Special-Regime Publicly-Subsidised Housing" and "Publicly-Developed Housing". For "VPO" in your text I would put "VPO" and add these two terms, or whatever variants you think appropriate, after it. "Special Regime" (RE: Régimen Especial) means that the purchaser's income is in the lowest income bracket. For details see the Wikipedia page cited. On "promoción pública, see this other section in Wikipedia: "En ocasiones, el promotor es la misma Administración pública. En este caso, se habla de VPO de promoción pública." https://es.wikipedia.org/wiki/Vivienda_de_protección_oficial... Also here (note the confusing alternative meaning of VPP, to which I referred at the beginning): "La Vivienda de Promoción Pública (VPP) es aquella en la que la compra del suelo, la financiación y la construcción son gestionadas por un ente público." https://www.jubilacionypension.com/derechos-obligaciones/doc... |
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Reference: VPP Reference information: VPP La compra del suelo, la financiación y la construcción son gestionados por un ente público en la Vivienda de Promoción Pública (VPP). Su principal característica es su reducido precio, establecido para facilitar a los jóvenes el acceso a la vivienda. Normalmente la entrega de una VPP se realiza mediante un sorteo o un concurso público. Cada Comunidad Autónoma decide el tipo de vivienda que va a promocionar aunque la más utilizada es la Vivienda con Protección Pública de Precio Limitado (VPPL). Esta modalidad debe cumplir una serie de características: No superar una superficie de 150 metros cuadrados, estar dentro del Precio Máximo Legal de Venta, ser ocupada en un plazo máximo de un año y ser la vivienda habitual del interesado. Además, los ingresos familiares no deben superar siete veces el Indicador Público de Renta de Efectos Múltiples. http://seguroreinicia.es/seguro-reinicia/diferencias-entre-v... -------------------------------------------------- Note added at 16 mins (2019-05-01 23:36:24 GMT) -------------------------------------------------- In the following reference, 'libres' is translated as 'free housing', which I think is a bit misleading! https://allinallproperty.com/legal/tax/ -------------------------------------------------- Note added at 23 mins (2019-05-01 23:43:34 GMT) -------------------------------------------------- I've also seen 'viviendo de protección pública'. En términos generales, podemos decir que existen dos tipos básicos de viviendas, libres y protegidas. Definirlas y conocer cuáles son sus características nos permitirá tomar la decisión más adecuada. Viviendas libres, características esenciales Las viviendas libres son aquellas que han sido construidas y pertenecen a empresas o particulares que no han recibido ningún tipo de ayuda del sector público, por lo que su precio de venta se rige por la ley de la oferta y la demanda. En el grupo de las viviendas libres, encontramos dos subgrupos: las nuevas y las de segunda mano. Diferencias entre viviendas libres nuevas y de segunda mano. https://estardondeestes.com/movi/es/tipos-de-viviendas-libre... 'Libres' could be subsidy-free housing. |
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