EMVS Madrid obtained 17% of the protected rental housing qualifications without an option to buy for 2024 and 2025. Its 2027 budget will grow by 14.4%.
According to eleconomista.es, the Municipal Housing and Land Company (EMVS) of Madrid obtained 17% of the final qualifications for protected rental housing without an option to buy registered in Spain during 2024 and 2025. In absolute figures, this amounts to 1,329 homes, compared to 7,834 nationwide, according to data from the Ministry of Housing collected by the Madrid City Council.
The municipal government led by José Luis Martínez-Almeida anticipates a budget of €199.6 million for the company in 2027, an increase of 14.4% compared to this year. The investment chapter will rise by 85%, exceeding €208 million. The board of directors is set to approve the accounts this Wednesday.
The majority of this investment will be allocated to land acquisition and the development of affordable rental promotions. EMVS will have nearly 9,000 homes in various stages of construction or tender during 2027, including those from the Plan Suma Vivienda, which will mobilise around 3,900 homes through public-private collaboration.
The company will have 29 promotions underway with nearly 5,100 homes, to which will be added 2,500 from the first two phases of the Plan Suma Vivienda. In 2027, a third phase of more than 1,400 homes is also planned.
For next year, EMVS expects to begin construction of 1,942 homes in Vicálvaro, Barajas, Tetuán, and Arganzuela. Meanwhile, the City Council will allocate parcels valued at €91 million to build seven promotions with over 2,000 homes in Valdecarros, Ermita del Santo, Las Tablas, and Carabanchel.
Since 2019, total investment has reached €1.9 billion to complete or promote 13,000 homes spread across 102 promotions. Of these, 3,383 homes from 41 promotions are already completed.
The affordable rental stock of EMVS now exceeds 10,000 homes, nearly 3,800 more than in 2019, an increase of nearly 60%. The forecast is to exceed 10,500 units by the end of 2027.
Álvaro González, delegate for Housing Policies and president of EMVS, states:
“No one, ever, in the history of Madrid has allocated as many resources and promoted as much public housing for affordable rent as the municipal government during Almeida's tenure.”
According to the Special Bulletin on Social Housing 2024 from the Ministry of Housing, Madrid leads the public affordable rental stock with 9,082 homes, ahead of Barcelona (8,520), Málaga (4,311), and Bilbao (4,223).
In addition to construction, EMVS will allocate €12.9 million to purchase homes in the secondary market. Another €3.8 million will fund the ReViVa programme, which aims to incorporate 50 vacant homes into affordable rental during 2027.
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