Isabel Díaz Ayuso, candidate for the presidency of the Community of Madrid, has set herself the objective of facilitating the construction of 50,000 new affordable homes, making this the "legislature of housing". She made the announcement during her speech at the first investiture debate that will see her returned to the head of the regional government, this time with an absolute majority for the PP. Ayuso marked out the roadmap, estimating that of the 50,000 properties, 13,000 will be promoted by the regional government.
The proposed increase in the housing stock aims to help young people find a home, while "helping to contain market prices". The president also rejected the idea that housing should be a problem that makes it difficult for people to arrive and "expel[s] middle classes and young families" from the city centre.
"Intervening in property and housing is an attack on freedom and private property that always ends up sinking the supply and pushing prices up. It may sound good in theory, but it never works," she said, referring to the state Housing Law, which she criticised for being agreed with "those who have no interest in general affairs and who promote occupation."
The next four years are set to see significant urban development in Madrid, with places such as Valdecarros and Los Berrocales due to provide 12,000 new publicly owned homes. In addition, Ayuso announced the approval of a new Land Use and Planning Law to offer "greater flexibility and legal security" in order to attract more real estate investment.
AFFORDABLE RENTAL MEASURES
In terms of rentals, there will be a public-private partnership to build 1,900 sustainable affordable rental properties in nine locations, with a budget of €70m from EU funds. There will also be a further 1,700 affordable homes provided by the Social Housing Agency (AVS) for individuals facing economic difficulties, with 125 already under construction and 365 in the tendering process, while 1,100 are still in the design phase. In the last legislature, the agency provided a total of 1,300 homes.
The VIVE Plan, launched in 2019, will continue, offering 40% below-market rents primarily to young people. Of the 6,600 homes planned, more than 4,500 are already being built in 12 municipalities. Other programmes include the My First Home Plan, which seeks to facilitate home purchases for young people under 35 who can manage a mortgage but do not have the necessary savings for a down payment, covering up to 95% of the cost of the property. This initiative has so far benefited 500 people through partnerships between the regional government and financial institutions.
The Youth Rental Plan aims to facilitate intermediation between renters and property owners, offering landlords a two-year unpaid rent coverage that includes legal assistance. The Rent-to-Buy Plan is for young people who have used this formula for ten years and want to buy the property, deducting rental payments from the purchase price. The Youth Solution Plan allows under-35s to rent for less than €600 per month. Finally, the Rejuvenate Madrid Plan will continue to encourage the renovation of vacant homes, provided that they are subsequently rented out. The regional government will bring together property owners and refurbishment companies to facilitate the process.