Between 20% and 65%. It is what increases the value of an apartment when it is reformed, according to the studies of different real estate companies. Despite the investment, it can be a very interesting option to place the property in a better situation for a future sale, although the derived legal requirements must be taken into account, such as the necessary registration in the Cadastre.
“Frequently, when selling an apartment it is convenient to undertake a reform first,” says Emiliano Bermúdez, deputy director general of donpiso, who adds that “it is necessary to register any change in the Real Estate Cadastre.”
Some reforms, which after the pandemic are a trend in Spain, due to successive confinements and restrictions, which have changed the way of seeing the home. “The restrictions due to covid-19 and teleworking have made people spend more time at home, so they have realized their limitations,” says the expert.
As a result, according to data provided by the Ministry of Transport, Mobility and Urban Agenda, the housing reform has grown by 14% in 2021, with 44% more extensions than last year.
In this way, most of the renovations of flats have been carried out this year in order to stay at home, although indirectly “all these properties have been revalued”, in the expert’s opinion.
Bermúdez points out that, apart from the expenses derived from the reform, which are usually “large” and more if it is “complete reforms of the property”, the legal requirements must be taken into account.
How to register it in the cadastre?
To register a reform in the Cadastre, it is necessary to present a cadastral declaration, which will be framed in the cases of new construction, expansion, reform or rehabilitation of real estate.
By means of this inscription, Bermúdez explains, “the alterations that have occurred in the property are declared”, by means of the presentation of the 900D model. The expert points out that the procedure can be done “in person or online”, as well as by Post, to the attention of the corresponding Provincial Economic and Fiscal Assistance Agency (OPAEF).
For the correct presentation of all the required documents, the expert recommends “consulting with an expert” and going to professionals so as not to leave “any loose ends”.
This presentation must be made “two months after the completion date of the works” and its maximum resolution period is six months, points out Bermúdez.