Building together

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

  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:

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• Alliance with Google

  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.

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• Crowdfunding

  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.

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• Play your House

  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

• Google case study

  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.

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Technological observatory

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:

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Innovation projects

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.

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Metrovacesa has identified Blockchain technology as one of the accelerators of innovation projects, because it enables:

• Process digitisation, which means cost/time savings;
• An improved customer relationship model;
• Generate new distribution channels and/or new business models

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.

• Collaborations with start-upsFor 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.

• Incorporation of BIM technologyA 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.

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• Construction innovation project: IndustrialisationMetrovacesa formalises agreements with companies that apply the most pioneering technologies in the construction sector, with the aim of implementing highly innovative technologies in its homes.Metrovacesa signs an agreement with Grupo Avintia to develop 500 high-rise industrialised homes.

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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.

• Rebuild 2019Metrovacesa participates as Main Partner in Rebuild 2019,the largest European building congress.

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• TransfiereEuropean 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.

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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:

• Reservation signing: 1%
• Sale agreement signing: 9%
• Monthly payment: 10% divided by the months of duration of the work
• Handover: 80% (mortgage subrogation)

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:

• From the customer: the bank receipt of the amount
• From Metrovacesa:

1. 1. Payment method document
   2. The house drawings
   3. Basement drawings with garage and storage room indicated
   4. Quality report
   5. Site plan
   6. Payment method document

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:

• From the customer: the bank receipt for the reservation amount.
• From Metrovacesa:

1. 1. Payment method document
   2. The house drawings
   3. Basement drawings with garage and storage room indicated
   4. Quality report
   5. Site plan

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:

• Low voltage ELECTRICAL installation certificate.
• GAS installation certificate.
• Manuals and warranties for electrical appliances and installations.
• Information on telecommunications installation.
• Energy Efficiency certificate.
• Copy of the Decennial Insurance.
• Drawings of the installations.
• Use and maintenance manual for the home.
• Supplier and provider information → List of materials.
• Copy of the First Occupancy Licence.
• After sales warranties.
• Articles of Association of the Community of Owners.
• Definitive Rating in the case of protected housing.
• House and outbuilding keys.

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.

• If customers subrogate in the developer loan, the financial institution must be notified 30 days in advance. The entity sends the notary chosen by the customer the documentation with the conditions of the loan so that the notarial act with the conditions of the loan can be granted. Once the documentation is submitted, the act is issued in 10 days and the deed of sale can be signed the next day.
• If customers have their own financing, other than the developer loan, the entity must send the notary chosen by the customer the documentation required to grant the notarial act with the loan conditions. Once the documentation is submitted, the act is issued in 10 days and the deed of sale can be signed the next day.
• If customers do not have any type of financing, they can sign a deed without having to grant any notarial act. The public deed of sale is granted once the Works Completion Certificate has been registered in the corresponding Property Registry.

1. The expenses and taxes derived from the granting the public deed of sale and its registration in the Property Registry, with the exception of the municipal property tax.
2. Duties, contributions, excises and taxes, and any other expenses that encumber the property or its use.
3. he Spanish property tax corresponding to the annuity in progress at the date of executing the public deed of sale is paid by the parties “prorrata temporis”, as such that until the transfer date it is paid for by the seller and from the day after the transfer date it is paid by the buyer.
4. The maintenance and conservation costs of common elements, pursuant to the participation fees and coefficients that correspond to your property, paying these common expenses directly and in cash to the Seller until the Community of Owners is formally constituted, also obliging the Seller to reimburse, if applicable, the disbursement that it made for the endowment of the reserve fund provided for in article 9.f) of Law 49/1,960, 21 July, Horizontal Property Act, modified by Royal Decree-Law 7/2019, 1 March, on urgent measures on the matter of housing and rent.