With its appealing Mediterranean lifestyle, Mallorca is a place where housing demand is always rising. If you own an officially protected home (VPO) and are considering selling it, there are particular points to bear in mind to ensure the sale is handled correctly and in line with the regulations. At Inmogestión Balear, we help you manage the sale of your VPO property in Mallorca, ensuring a transparent process that complies with the rules.
What is officially protected housing (VPO)?
Officially protected housing is a government-backed initiative intended to provide affordable housing for people with limited financial resources. In Mallorca, these properties are designed to ensure that all citizens have the opportunity to access a decent, stable home.
What does selling an officially protected home (VPO) involve?
VPO properties are homes that have been built or purchased with certain forms of public assistance or subsidies to provide affordable housing for people with limited resources. Because of their protected status, their sale is subject to restrictions and requirements depending on each home’s legal regime and classification.
Requirements and considerations for selling a VPO property in Mallorca
To sell a VPO property in Mallorca, it is essential to meet certain requirements and follow specific steps:
- Check the protection regime: Check the definitive classification. For VPO properties predating Law 5/2018, the protection period is counted from that classification; properties classified under the new law have permanent protection, with no voluntary removal of protected status.
- Obtain authorisation to sell: In many cases, you must request authorisation from the relevant authorities, such as the Balearic Housing Institute or the regional Housing Department, to sell a VPO property. This authorisation confirms that the necessary conditions for the sale have been met.
- Observe the maximum sale price: The sale of a VPO property is usually regulated by a government-set maximum price, which depends on the type of home, its age and its location. This maximum price ensures that the property remains affordable for the next buyer.
- The public authority’s preferential purchase right: In some situations, the government has a preferential acquisition right, meaning it can decide to buy the home before it goes on the market. This will depend on the regulations and housing policies in force at the time of the sale.
- Repay subsidies or assistance received: If the VPO property received assistance or subsidies when it was purchased, you may have to repay a proportional part of that support when selling, depending on how much time has passed since the purchase.
- Required documents and certificates: When selling a VPO property, it is important to have all the paperwork in order, including the property’s protected classification, permits and energy certificates, and any other specific documents requested by the authorities.
Steps to sell your VPO property successfully
Selling a VPO property can be a complex process, but with the right help it is possible to meet all the requirements and facilitate the transaction. At Inmogestión Balear, we offer a comprehensive service for VPO owners who wish to sell their homes. Our services include:
- Legal and administrative advice: We manage the necessary authorisations and check the regulations applicable to your VPO property.
- Professional valuation: We help you establish the maximum permitted sale price and advise you on your property’s actual market value.
- Finding buyers: We seek potential buyers who meet the requirements for purchasing a VPO property, ensuring an efficient, lawful sale.
- Support with paperwork: We make sure all the documents are in order so that the sale proceeds smoothly.
Conclusion
Selling a VPO property in Mallorca is an opportunity to release an asset, but it also requires compliance with specific regulations that can be complex. At Inmogestión Balear, we are here to simplify the process, ensuring that every step of the sale is transparent and complies with the law.
If you are considering selling your VPO property, contact us! We will help you manage the sale professionally, ensuring that the entire process is efficient and complies with Mallorca’s regulations.
Alongside the specific VPO requirements, it is worth reviewing Documents to sell a home in Mallorca: a detailed guide and Nota simple: what it contains and how to request one.
