A response to the housing crisis in Madrid
The Community of Madrid is preparing to implement a Law of Urgent Measures for Protected Housing, which will be approved in the next Government Council. This legislation aims to create over 18,000 new homes within four years, marking a significant milestone in the fight for access to affordable housing.
The regional president, Isabel Díaz Ayuso, has highlighted that this new regulation seeks not only to increase the supply of protected housing but also to accelerate construction timelines. Among the proposed measures is a 30% increase in density and a 20% increase in building, which will allow for more flats to be built within the same development without the need to consume new land.
Since 2019, the Madrid government has prioritised access to affordable housing, managing to construct over 40% of the total public housing in Spain. So far, they have delivered 5,300 homes under their Plan Vive programme, which offers affordable rents through public-private collaboration. This year, an additional 3,200 homes will be added to this plan, with the ultimate goal of reaching 14,000 units by 2027.
Starting next year, a 24% increase in public investment for social housing is expected. This will allow for the delivery of more than 700 homes within the current legislative framework, aimed particularly at vulnerable families. Additionally, the tax reductions implemented since 2019 have been key in facilitating access to housing, particularly for young people under 25.
Madrid has also led significant legal changes that allow for the conversion of vacant offices into affordable housing, thus adding over 8,000 new homes to the regional real estate market. This initiative has already benefited around 20,000 people and reflects an innovative approach to current housing challenges.
Not only are new homes being built; specific aids for large families and single-parent families are also being implemented. The recovery of leasing with an option to buy and the elimination of fees to resolve conflicts between landlords and tenants are integral parts of the effort to improve housing conditions in Madrid.
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