Madrid to offer 2,200 new affordable rentals: prices and access conditions

Madrid wants to expand its portfolio of affordable rental apartments with the help of the private sector. The Municipal Housing and Land Corporation (EMVS) has just launched the Suma Vivienda Plan, which will allow the construction of 2,200 new homes in Los Berrocales and Los Ahijones, in the Vicálvaro neighborhood. Yesterday, the organization published the specifications for the first phase of the project, which will offer private developers 27 plots (around 114,000 square meters, divided into seven lots in a contract valued at 9.57 million euros) for the construction and subsequent rental of part. 1,600 social housing units. In these apartments, the city council estimates, around 4,200 Madrid residents will be able to reside. Related news standard No Madrid City Council buys your home: conditions and prices Helena Cortés The Madrid Municipal Housing and Land Corporation will allocate six million euros to the Madrid City Council. acquisition of new properties aimed at increasing the public supply of affordable rentals. One of the novelties of this new plan is that the homes will be intended for tenants who are not in a “vulnerable” situation but who cannot opt ​​for the free market either. , he said during the presentation of the plan by the mayor of the capital, José Luis Martínez-Almeida, because they earn more than 3.5 times the IPREM (Multiple Effects Public Income Indicator), or around 29,400 euros gross per year. For this reason, the ceiling for access to these homes has been increased to 5.5 times the IPREM, or around 46,200 euros gross per year. Tenants will never pay more than 30% of their income. According to preliminary studies by the City Council, the councilor stressed, the rent for a medium-sized apartment with a garage and storage room will be around 800 euros. This is 25% less than the average for the area, added the Housing Policies sector. According to preliminary studies by the City Council, the councilor stressed, the rental price for a medium-sized apartment with a garage and storage room will be around. 800 euros, 25% less than the average for the region, according to sources in the region. There will be no purchase option. madrid_dia_0703To benefit from these EMVS Madrid rentals, you will have to wait for these tenders to be awarded. Months before the end of each promotion, sources in the region explain, they will open a form where all interested parties can register, who will enter this Suma Housing Plan in chronological order and not by drawing lots. 65 years of concession The concession companies will have the right. exploitation of the houses for 65 years, after which they will be integrated into the municipal heritage. The municipal housing and land company has 26 projects underway, representing around 2,318 apartments, but the demand for apartments in the capital is such that it is unaffordable to meet them solely through the public, local sources admit. In this sense, Almeida maintained that “housing problems are solved based on real analysis” and “public-private collaboration, generating a sufficient supply of land” for developers to build. In addition, he recalled, it is important to “improve regulatory and fiscal conditions” to facilitate developments, moving away from “any temptation of interventionism and regulation”, factors that “hinder” the creation of housing. The second phase of the Suma Vivienda Plan will begin in 2025 and foresees the construction of more than 600 homes in these new urban developments in Madrid.

Source