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Madrid extends “Mi Primera Vivienda” to age 50 and makes mortgages of up to 100% easier
Access to housing in Madrid changes with a measure that broadens the profile of those who can buy a home. The “Mi Primera Vivienda” programme now includes people up to the age of 50, adapting to a reality in which many still cannot access their first home after turning forty.
The main new feature is financing. People under 40 will be able to opt for mortgages of up to 100% of the property’s value, while the percentage falls to 95% for those between 40 and 45 and to 90% for those between 45 and 50. This reduces the need for prior savings, one of the main obstacles to buying.
The maximum price of the home also changes, rising to 425,000 euros and widening the options available on the market. In addition, the programme allows the purchase of both new and second-hand homes anywhere in the Comunidad de Madrid.
The measure forms part of a broader plan seeking to increase the supply of housing and make access to ownership easier. In parallel, the construction of thousands of new protected homes is planned over the coming years to balance market pressure.
With this change, the Comunidad is trying to respond to an increasingly widespread problem: people with stable employment who nevertheless cannot raise the deposit needed to buy. The expansion of the programme reflects this change in the buyer profile and adjusts assistance to that new reality.
If you have been thinking about buying a home in Madrid for some time but have not been able to save enough, this measure may bring you closer to that goal. Having access to more financing reduces the barrier to entry and expands the options available. Even so, housing prices remain high, so this support may make the difference between continuing to wait and taking the step in the coming months.