The Decree Law 2/2025, of February 25, by the Generalitat of Catalonia, adopting urgent measures in housing and urban planning, introduces significant updates to various aspects of Catalan urban regulations. The law came into force on February 27, and in summary:
Expanded Scope of the Large Holders Register:
From February 27, financial institutions, their real estate subsidiaries, investment funds, asset management entities, private equity funds, and legal persons owning more than 10 residential properties located in the national territory, as well as individuals and legal entities holding 5 or more residential properties in a tight housing market area, are required to register in this Register.
Although the terms of registration are still pending regulatory development, Large Holders must notify the Catalonia Housing Agency when they meet the corresponding requirements.
New Right of First Refusal and Pre-emption:
The Generalitat’s rights of first refusal and pre-emption are extended to:
(i) the transfer of any residential property owned by a Large Holder legal entity located in a tight housing market area, except for newly constructed homes transferred to individuals for personal use; and
(ii) the adjudication of housing from an administrative or judicial auction. Previously, this right only applied to properties acquired through foreclosure proceedings or debt settlement with mortgage guarantees.
Until the Large Holders Register is fully developed, legal entities wishing to transfer residential properties located in a tight housing market area must certify, through a registry certificate, the number of properties they own at the time of executing the sale deed.
