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Madrid allocates half of municipal housing to young people, with rents starting at 500 euros
In Madrid, it is planned to allocate half of the homes from the new municipal rental fund to young people, with rents ranging from 500 to 600 euros per month.
Half of the new municipal homes will be reserved for young people and young families. The City Council has established that at least 50% of social-rental flats will be allocated to those who face the greatest difficulty accessing the market.
The key project is being developed in the El Cañaveral neighbourhood, where, of the 1,212 homes planned, around one thousand will be intended for young tenants. Another 205 homes are planned in the Nuestra Señora de los Ángeles complex. Rents are set at between 500 and 600 euros per month, well below the market average.
The programme is managed by the Empresa Municipal de la Vivienda y Suelo. According to the City Council, in the last seven years 90% of the homes allocated by this body have been for young people and families.
The authorities consider that expanding the public rental housing stock will make it possible to retain young talent in the capital and reduce the pressure caused by rising housing costs.