Spain launches affordable housing program with varied prices
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The Spanish government, through Casa 47, began offering 638 affordable rental homes across six regions. Castellón, Alicante, Galicia, Valencia, Navarra, and Asturias, to families with annual incomes between 16,000 and 63,000 euros.
President Pedro Sánchez presented the new housing portal where citizens can apply for these rentals, many sourced from the Sareb asset management company. Maribel Ramos, the new president of Casa 47, explained that the available homes are those already adapted from Sareb’s 40,000 properties.
The program offers a wide range of prices, with 30 homes available for 350 euros per month for those earning between 16,800 and 28,000 euros annually. These are concentrated in municipalities like Castellón de la Plana and Cedeira. While some locations offer significant savings compared to market rates.
Casa 47’s prices in Castellón are nearly 100% lower than those listed on Idealista, others, particularly in Turís and San Antonio de Benagéber near Valencia, offer larger homes exceeding 1,000 euros per month. Casa 47 plans to add 1,500 more homes to the portal this year, including properties in Madrid and Seville. The company also intends to build 10,000 homes in a new neighborhood in Madrid and potentially 24,000 more on public land.
To qualify for a rental, applicants must be Spanish citizens or residents, not own a home (with some exceptions), have an annual net income between 2 and 7.5 times the IPREM, and be current with social security and tax obligations.
