Metrovacesa designs thinking about the final product, as well as about the process as a whole that encompasses the different stakeholders that are part of it, always working to anticipate customers’ needs in the design of the homes.
Metrovacesa’s homes are designed to be functional, accessible, flexible, rational (minimum maintenance and maximum durability) and comfortable.
The company’s values regarding sustainability start from the premise of respect for the environment and continuous improvement in the response to customers. Reduced environmental impact, efficiency in operating processes and innovation are the Company’s main action areas.
On metrovacesa’s website, in the “Shareholders and investors” section, you will find information regarding the company’s price and economic/financial information, updated every quarter, as well as a corporate presentation.
Yes, Metrovacesa signed an agreement in 2019 with the Avintia Group to develop the company’s first 500 industrialised homes.
Metrovacesa has obtained the first building permit for the construction of 74 homes in Manresa, which will begin in 2020, and is working on the following projects, researching and working to progress this industrialised high rise construction. Barcelona and Seville will be the next focuses of action.
As a listed company, metrovacesa has to comply with exhaustive internal control over economic and financial information, which provides transparency and security to customers regarding the company’s solvency. This data is published on the website periodically.
This new working model reduces deadlines for housing construction and delivery by 30% and improves the quality of execution and final finishings, using the same materials as in traditional construction.
Having specialised labour and controlled processes in the workshop and reducing the environmental impact of traditional construction are other advantages of this type of construction.
The two main shareholders are Banco Santander and BBVA as of January 2020. All information regarding the shares and investors is published on the website.
Developer: The real estate developer is the natural person or entity, public or private, who, individually or collectively, takes the initiative to develop homes for sale. Metrovacesa coordinates and manages the sales and construction process through the approval of suppliers and the validation of processes.
Real Estate Agency: Real estate companies are dedicated to the purchase and sale of real estate (houses, apartments, commercial premises, land, etc.). They also provide other services such as: rentals, mortgage loan management, real estate advice, property appraisals, etc.
Construction company: These companies are dedicated to implementing the construction project and coordinating all the agents involved
Not just digital transformation: also Innovation. Constantly devising projects with customers in mind, Metrovacesa has gone one step further in the services it offers, using new methods that are more innovative, sophisticated and adapted to new technologies.
MVC Digital is a service that enables Metrovacesa’s customers to purchase a fully automated home, from the first visit and finishes and furniture choices, to contract management and signing the reservation agreement. This means that you can visit the house from your home just as if you were going to see it in person:
Metrovacesa, in alliance with Google, uses new technologies, such as the Lead Ads form and Discovery ads. The Lead Ads form can be used to capture the interest of potential customers when they search for Metrovacesa, and its homes and services in Google. Discovery Ads help to offer attractive formats when customers go to Google to discover new things. Metrovacesa uses all of these tools, among others, to improve users’ search for different real estate options while browsing.
First new construction operation. Metrovacesa opens a new sales channel through crowdfunding (collective investment) with the ‘Residencial Amura’ development, located in Valencia. This project, which revolutionises the way homes are marketed in the sector, is a new milestone in Metrovacesa’s innovation strategy. The project is aimed at all types of investors, with a minimum investment of 500 euros.
The Torres del Cel promotion has been rebuilt into three video games
The 98 homes in the development have been rebuilt as accurately as possible, respecting spatial distribution, the environment, the choice of materials, etc.
Users can discover the 98 homes in Torres del Cel by playing their favourite video games, interacting with the surroundings and moving freely throughout the development. Three YouTubers have adapted the original maps of the project to the unique features of each game
In 2018, Metrovacesa decided to launch a digital strategy with a dual objective: to improve brand positioning and generate business leads that lead to conversions. With this project, Metrovacesa took one step further in its relationship with customers, extending this concept to anyone who had expressed an interest in any of the homes in the different channels without yet having made a purchase.
In addition to identifying Blockchain as a project accelerator, Metrovacesa has created an Innovation Observatory linked to scouting for start-ups to work with in the first Proptech Lab specialising in Blockchain. In order to detect opportunities aligned with the Company’s strategy.
In 2018, the first Proptech map was launched:
Innovation is present in Metrovacesa’s values and strategic plans. The company is a pioneer in this field, in which it constantly updates and incorporates improvements.
Metrovacesa has identified Blockchain technology as one of the accelerators of innovation projects, because it enables:
In its open Innovation model, Metrovacesa believes in sharing best practices, experiences and solutions with other stakeholders in the real estate sector and with other sectors that incorporate technology to provide the best customer experience, incorporating new innovation solutions that provide value to customers.
For example, the closed agreement with the start-up ‘Garantify,’ through which Metrovacesa launched an exclusive 100% personalised advisory service to select the homes that best match the customer’s financial profile.
A personal advisor explains the customer’s financial position free of charge and informs them about homes that best suit their economic capacities and needs.
A 3D simulation technology that provides greater efficiency and precision to architectural design, and enables digital design simulations and intelligent and coordinated management of all the information in an architectural project.
Metrovacesa signs an agreement with Grupo Avintia to develop 500 high-rise industrialised homes.
Contemplated in our strategy, we participate in relevant forums about building, technology, sustainability or any other relevant topic that adds value to our clients and can apply to the real estate sector.
Metrovacesa participates as Main Partner in Rebuild 2019,the largest European building congress.
European Forum for Science, Technology and Innovation in which Metrovacesa developed its new ‘Sustainability applied to housing’ challenge within the framework of the Transfer Forum with its thirty start-ups.
The development construction period is usually between 18 and 24 months. Although it may vary depending on the size of the building, the project type, the location and the public agencies involved.
The Handover Certificate is a document signed by the construction manager and the construction execution director, agents appointed by the developer from the beginning of the works for management throughout the duration of the works, who certifies the date on which the building has been fully executed in accordance with the project for which the licence was obtained. This certificate must be endorsed by the corresponding professional associations, namely the College of Architects and the College of Technical Architects. Without the Handover Certificate, the Works Completion Certificate between the Developer and the Builder cannot be signed nor the First Occupancy Licence applied for.
This is a mortgage guarantee loan in which the buyer of a new home can be subrogated by acquiring the debt that the developer contracted with the bank for the construction of the home (in the case of a building, the buyer would only subrogate the specific mortgage amount).
The architectural project describes the general conception of the building and defines the product: form, functions, distribution, construction system, represented in drawings, computer models or prototypes, with a descriptive report and a general budget. In most cases, the building permit must be applied for at the City Council, although sometimes the Executive Project is required before the application can be submitted.
t is the design phase that the Basic Project develops, with the complete description of details and specifications of all the materials, elements, construction systems and equipment required to carry out the building work. This document must be developed, in its entirety, before the start of the work and is required to contract the construction company. It must also be approved and presented to the City Council before the works begin.
The purpose of the horizontal division deed is to establish in the building, with respect to which the new work has been awarded, a special legal regime in which exclusive elements of each owner coexist (in exclusive and separate property) and common elements of all of them (in joint ownership) required for their correct use.
The building will be divided into all the independent units such as the non-linked homes, storage rooms and garage spaces that the building has. These units are described in the deed, stating the boundaries, the net usable area and constructed area and the fee for participation in the building.
The non-linked units constitute a single independent estate in the Land Registry.
The First Occupancy Licence is a document issued by the Public Administration (City Council) after verifying that the construction has been carried out according to the project for which the licence was granted and that it complies with the applicable regulations. The granting of this licence is an essential requirement to be able to notarise the deeds for the houses and, in most cases, to be able to contract services.
The developer loan has several advantages for the customer.
As it is a loan already granted, it provides greater agility and flexibility when it comes to subrogation and the financial offer is usually more competitive. This is due to savings in the appraisal cost and ease in granting risk.
Once the private agreement is signed, you will be given a username and password to access the metrovacesa customer area, where you can consult your payments, photos of the progress of the work, the review lists, the documents and the people involved in the project.
Once the First Occupation Licence has been obtained and the Works Completion Certificate is registered in the corresponding Property Registry, the Customer is summoned to grant the Public Deed of Sale before a notary public.
No, you pay 20% on handover. At the point of sale, a personalised payment plan will be made for each customer to reach that 20% in the period of time that is available.
Usually, the payment plan is as follows:
The obligations to which the developer is subject are covered within the law.
You can consult them in:
LAW 38/1999, 5 November, on Building Planning.
Chapter IV: Responsibilities and guarantees.
Each customer has different priorities when looking for their home. It is often important to assess the location, orientation, energy, price, product and developer.
Metrovacesa focuses on the customer from the very beginning, orienting the offer to their needs.
The customer must provide a valid identification document in the days prior to signing the reservation.
The documentation exchanged when signing the sale document, in most cases is:
First Occupancy Licence. This is always subject to the indications of the sales network.
The customer must provide a valid identification document in the days prior to signing the reservation.
The documentation exchanged when signing the reservation document, in most cases is:
This is always subject to the indications of the sales network.
The real estate sale agreement is a type of agreement whereby the seller transfers, in exchange for a price, the ownership of a property (a house, for example) to the buyer. It is signed once the Development Work Licence is obtained.
The Money Laundering and Terrorism Financing Prevention processes are applied taking the evolution of each transaction/sale into account.
Money Laundering (and Terrorism Financing) Prevention is a legal obligation that every real estate developer must comply with in order to prevent any amount of money related to the commission of a crime from being used for the purchase of a property.
It is a welcome pack to your home that includes:
VAT (Value Added Tax, or IVA in Spanish, Impuesto sobre el Valor Añadido) which is 10% if it is a first home, which is a Spanish national tax.
Stamp duty (AJD in Spanish, Actos Jurídicos Documentados) Stamp duty is a regional community tax.
Real Estate Tax (in Spanish, Impuesto sobre Bienes Inmuebles or IBI) is a regional community tax.
In most cases, the sales person will answer your questions personally, giving you the commercial documentation available, the house drawings, the quality report, information about the development, energy rating and the payment plan.
If the work is completed prior to the date established in the sale agreement and the First Occupation Licence or its equivalent is obtained before the aforementioned date, the buyer is notified by the Seller to indicate that the public sale agreement can be notarised.
If, after the date established in the sale agreement, the house cannot be delivered because the City Council has not granted the corresponding First Occupancy Licence, the agreement establishes an extension system to be counted from the expected handover date.
However, if these extensions have transpired and the City Council has not yet granted the First Occupation Licence, the Buyer may choose to either terminate the agreement or continue with the purchase until the First Occupation Licence is effectively obtained.
¿Qué tipo de contrato es la reserva?There is often some confusion about what the ‘intention and reservation agreement’ (in Spanish, contrato de señal y reserva) for a new property construction is and what it entails, if compared with other types of agreements or real estate agreements such as the down payment.
This type of real estate agreement can be considered the step prior to the actual sale of a property (in Spanish, compraventa) and, in practice, it obliges both parties to continue the process through to the end. Thus, the seller agrees to sell the property and the buyer agrees to buy it.
To make the intention and reservation agreement effective, the buyer must pay a certain amount in advance. In other words, part of the house price must be paid before effectively becoming its owner. By signing this agreement, the seller also guarantees that the property will not be sold to any other possible buyer.