The housing crisis in Spain particularly affects young people. According to data from European Statistical Officemore than 65% of young people between 18 and 35 live with their parents, a figure which even exceeds that recorded during the economic crisis of 2008. This situation has generated great unrest, and in cities like Madrid Numerous demonstrations have been organized against real estate speculation. Given this panorama, the Madrid City Hall will draw 205 houses for rent in Vallecas for 500 euros per monthwith the aim of offering young people a more affordable option that does not exceed 30% of their salary.
In order to participate in this draw, interested persons must meet certain conditions. They must be under 35 years old and have an annual salary not exceeding €41,370 gross, i.e. three and a half times the Indicator Public Income Tax with Multiple Effects (IPREM). In addition, they must live or work in Madridnot be the owner of other accommodation and not be a public rent tenant. The houses are located in a eco-district in Vallecaswhich stands out for its energy efficiency and sustainability, and has common areas, thermal insulation and modern facilities.
Apartments for rent for 500 euros in Madrid
Madrid City Hall has launched an initiative aimed at alleviating the difficulties encountered by young Madrid residents in accessing housing in the capital. Inside first quarter 2025a draw will be organized to allocate 205 housing units located in the Puente de Vallecas neighborhood, more precisely in the Nuestra Señora de los Ángeles 14 complex. This project aims to offer young people under the age of 35 an affordable housing solution.
The main advantage of these accommodations is that their rent will not exceed the 30% of the tenant’s incomemaking it a much more accessible option for young people who cannot afford the high prices of the real estate market. In fact, the average monthly rent for apartments in Madrid will be 500 euros, which will allow young people to emancipate themselves without paying rent becoming an unsustainable financial burden.
In total, they will be awarded 205 floors, most with one bedroom, and some adapted for people with reduced mobility. 208 parking spaces and commercial premises are also included in the same development, which expands the options for residents in the area.
Requirements
According to the regulations, interested parties must meet a series of requirements: have a gross annual salary less than 41,370 euroswhich is equivalent to approximately 2,900 euros per month, and be registered in the register of the Municipal Housing and Land Corporation (EMVS). In addition, applicants for renting 500 euro apartments in Madrid cannot own other accommodation or live in public property.
Our Lady of the Angels 14
This project not only meets the housing needs of young people, but also aims to be a model of sustainability. The houses are located in a eco-districtan urban development area that places a strong emphasis on energy efficiency and sustainability.
In fact, the houses of Our Lady of the Angels 14 They benefit from an energy class A, thanks to the implementation of various ecological measures, such as the use of solar panels for the production of domestic hot water and efficient air conditioning systems.
In addition, the building has a centralized heating system underfloor heating, which reduces energy consumption. The design of the houses also includes thermal insulation of the facade, which helps to reduce the need for heating or air conditioning.
Likewise, the project has an innovative character pneumatic waste collection system. This system allows residents to deposit their waste in gantries which transfer it to a central station using a vacuum system. This facilitates waste management, while also contributing to the reduction of CO2 emissions in the area, as it eliminates the need for trucks and collection containers on public roads.
With this new measure, the Madrid City Hall reiterates its firm commitment to young people, by allocating a significant share of social housing to this population group, which continues to be one of the most affected by the growing housing crisis, marked by the high price of rents and the lack of affordable options.
The creation of a park accessible and sustainable housing for young people is one of the priorities of the municipal administration, which opted for this promotion as part of a broader effort aimed at ensuring that young people can become independent and develop their personal projects without having to devote a large part of their income to pay the rent. This project is part of the objective that 50% of housing built under the current legislature be intended for young people.
