Sergio Nasarre-Aznar and Elga Molina-Roig
This paper aims to explain the main difficulties in the Spanish residential rental market becoming a true alternative to home ownership.
Abstract
Purpose
This paper aims to explain the main difficulties in the Spanish residential rental market becoming a true alternative to home ownership.
Design/methodology/approach
Currently, the Spanish rental market only meets temporary housing needs; it is very atomized and lacks professionalism. It does not provide an adequate legal framework to fulfil the parties’ aspirations (i.e. stability, affordability and flexibility for tenants; profitability, security and guarantees to landlords). The analysis of this proposition and the resulting proposal are based on six years of research, which started with the TENLAW European project.
Findings
Overcoming these constrains is essential to double the rate of residential leases in Spain and get closer to the European average, thus achieving a true diversification of housing tenures and avoiding future housing bubbles.
Practical implications
The paper makes a series of recommendations to legislators and policymakers to draft an adequate legal framework aimed at increasing the housing rental market share. This is based on the experience of mature tenancy markets in Europe, such as the German, Swiss and Austrian ones.
Social implications
The new proposed legal framework will help to transform the tenancy model in Spain into a functional one, making it more stable, affordable and flexible, while increasing safety and profitability for landlords. The model is also applicable, on a more general level, to all Mediterranean European countries.
Originality/value
Rethinking the regulation of tenancies, in a context of housing crisis and unaffordability (still a reality in many European and worldwide countries) has valuable potential for making this type of tenure more popular and for avoiding future housing bubbles.
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This paper aims to discuss the questioning around the current suitability of ownership both for accessing to certain property (housing, to be more specific) and chattels (digital…
Abstract
Purpose
This paper aims to discuss the questioning around the current suitability of ownership both for accessing to certain property (housing, to be more specific) and chattels (digital contents, animals and autonomous robots) that have recently flourished, favored by technological advances and the change in the values of the millennials’ in a context of crisis.
Design/methodology/approach
The process of substitution (e.g. through alternative housing tenures, such as intermediate tenures and collaborative housing, licensing digital contents) or erosion/elimination (e.g. owning animals and robots, tokenization through blockchain) of ownership through key types of property and chattels.
Findings
Ownership, both of land and goods, is again at the stake. Technological advances and/or new values of millennials in a context of crisis have led to questioning the suitability of ownership to favor universal access to housing, of holding music and other digital contents, have limited the faculties of animals’ and pets’ owners and are favoring the evolution of autonomous robots into subjects of law rather than mere objects.
Research limitations/implications
Only key property (housing) and chattels are studied (digital contents, animals, robots). There is no broad study of the global current situation of ownership.
Practical implications
It is discussed how the changes of values and technological advances in a context of crisis have impacted in the strength and reliability of ownership to allow access to property and chattels.
Social implications
These changes in ownership change how we can access to property (housing) and to chattels (digital media) and even to changes in what is considered “object” such as what is happening in Europe with animals and robots.
Originality/value
This is a new approach to consequences of the crisis in the field of housing (fractioning of ownership -temporal and shared ownership-, collaborative economy) and a change of values in the new millennial generation (animals) in this context and owing to the advance of the new technologies (robots). Is ownership again at the stake?
Sergio Nasarre-Aznar and Héctor Simón-Moreno
This study aims to explore the current situation of universal accessibility to multi-unit buildings in three European countries (Spain, Germany and Sweden), in view of the lack of…
Abstract
Purpose
This study aims to explore the current situation of universal accessibility to multi-unit buildings in three European countries (Spain, Germany and Sweden), in view of the lack of effective European rules on this topic, with the aim to identify which legal frameworks and policies may be useful to favour it.
Design/methodology/approach
The results presented in this work are based on empirical data gathered from three surveys conducted in three representative countries of different housing models (Spain, Germany and Sweden). These surveys addressed the grade of accessibility at each point of the route that a person with mobility difficulties, with a physical deficiency or aged +70, has to do to access to their home from a public street or road.
Findings
The current paper shows that, in the end, there is still a long way to go in terms of universal accessibility to multi-unit buildings in, at least, three European Union Member States as, according to this study’s findings, the percentage of universally accessible multi-unit buildings is limited to 0.6 per cent in Spain, 2.5 per cent in Sweden and 1.5 per cent in Germany. The study also identifies successful legal frameworks and policies among the studied countries that may be useful to achieve a true universal accessibility to flats located in multi-unit buildings.
Research limitations/implications
The legal frameworks and policies identified in this paper in terms of promoting universal accessibility to housing located in multi-unit buildings may provide guidance to other researchers and policymakers when addressing this topic, thus helping them to reach an egalitarian and inclusive society.
Originality/value
This paper goes one step further than previous works as it is based on up to date empirical data concerning accessibility and it identifies successful legal frameworks and policies in a comparative perspective.
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The purpose of this paper is to examine the response of the Spanish courts to the effects of the 2007 financial crisis for residential mortgage borrowers in the absence of any…
Abstract
Purpose
The purpose of this paper is to examine the response of the Spanish courts to the effects of the 2007 financial crisis for residential mortgage borrowers in the absence of any equivalent intervention by the legislature. The paper also explores the potential risks that recent court decisions might pose for the Spanish mortgage and banking systems.
Design/methodology/approach
The paper uses a combination of doctrinal and comparative methodology. It undertakes an analysis of decided judicial cases in Spain and compares these to international courts’ decisions and to national and international legislation with a view to exploring their originality in the field of mortgage-related consumer protection.
Findings
The reviewed cases demonstrate the need to consider legislative reforms to increase the protection of consumers in relation to mortgages. Some reforms took place in 2013, but these were not perceived as sufficient by the judiciary. The paper also highlights the legal uncertainty that has followed these decisions and its negative impact on the credibility of the Spanish financial and legal systems.
Research limitations/implications
The cases discussed are exceptional in the context of the general “normal” or “traditional” application of contractual, procedural and mortgage legislation by the rest of the judiciary. However, they are relevant enough to detect a trend and the need for the revision of affected statutes.
Originality/value
This paper provides the first systematic critical analysis of these cases. It is of particular significance, as they collectively represent a distortion of the civil law principles that provide the basis of Spanish mortgage law and, therefore, of the wider financial system.
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The “condohotel” is a type of condominium, which is most commonly used in tourist buildings, such as hotels, where investors can buy a private room/unit and offer it to a hotel…
Abstract
Purpose
The “condohotel” is a type of condominium, which is most commonly used in tourist buildings, such as hotels, where investors can buy a private room/unit and offer it to a hotel company, which manages the “condohotel” and offers the units to guests through an accommodation contract. According to the Spanish regions called autonomous communities that provide a special legal framework for “condohotels”, room owners are also permitted to use their units for a specific period. However, residential use is prohibited. In exchange, the hotel company pays a part of its profit to those owners. This paper aims to analyse how the “condohotel” regime works in Spain and what the main weaknesses are that explain its limited success, despite the importance of the real estate and tourist sectors and the popularity of the condominium regime in this country.
Design/methodology/approach
In this paper, the complex concept of “condohotel” is explained. The role of the participating parties is examined along with the supplementary legal regimes that are applied to identify the reasons why it has had a limited success and how its regulation could be improved.
Findings
This paper identifies the changes that are needed to address the relative failure of this regime in Spain, as “condohotels” can be an attractive type of alternative accommodation for someone interested in hotel services or for retired people who want to stay some months of the year in the beautiful and sunny Spain with all the amenities of a hotel or for those who need to live in a place for a few months for work reasons.
Research limitations/implications
This paper identifies different contracts to cede private units to hotel company. However, further research is necessary to identify which contract is the best option or if it could be a mixture of them.
Originality/value
The “condohotels” facilitate becoming an owner of a hotel room or unit of another tourist establishment under the condominium regime. However, the unit can only be used for tourist purposes. Despite this limitation, “condohotels” might potentially be used not only as a second residence or a tourist solution but also as a temporal housing solution or as an investment to obtain some extra income. Thus, it is worthwhile improving the legal framework and offering more legal certainty to the parties that intervene in this regime.