Although when discussing the housing problem in our country, attention often turns to younger generations, they are not the only demographic group that finds it difficult to access housing, even when it comes to buying. For this reason, with the aim of facilitating access to a mortgage for those wishing to purchase their first home, the Community of Madrid intends to expand the coverage of the ‘Mi Primera Vivienda’ program.
The main change in this expansion—as the regional government announced last September—is raising the age limit for applicants to include people between the ages of 40 and 50.
Thus, to assist Madrid residents who do not have sufficient savings to make a purchase under current market conditions, they will be eligible for mortgages under the following conditions:
- Up to 100% of the property’s value if they are under 40 years of age.
- From 95% if they are between 40 and 45 years old.
- From 90% if they are between 45 and 50 years old.
The measure, which is part of the 2026/27 Emergency Plan—which includes other initiatives, such as increasing the number of units under the Plan Vive program to up to 14,000—also entails the inclusion of new-construction properties among the financing options.
What conditions must homes meet to be eligible for the subsidy?
Homes eligible for subsidies under this plan may be located anywhere in the Community of Madrid and must be used as a primary residence for at least five years following purchase.
With the expansion of the regulations, homes may be either pre-owned or newly built, and the maximum price limit will rise to 425,000 euros.
The expansion of the ‘Mi Primera Vivienda’ program and the State Housing Plan
Although, as mentioned, the measure was announced several months ago, it is back in the news ahead of the imminent approval this Wednesday by the Governing Council of a new Law on Urgent Measures for the construction of 18,000 affordable housing units over the next four years.
This initiative is part of the 2026/27 Emergency Plan, which also includes the expansion of the ‘Mi Primera Vivienda’ program. The news, not surprisingly, coincides with the Ayuso government’s opposition to the State Housing Plan approved this very Tuesday by the national government.
This plan provides for a transfer of funds to the autonomous communities, provided they accept a series of conditions: that they co-finance 40% of the plan, share more housing data, and permanently safeguard public housing.