In the race to respond to one of the main social concerns -access to housing-, the Community of Madrid has decided to give a new twist to one of its star programs. My First Home’, originally launched as a measure to favor youth emancipation, now raises the maximum age to 50 years old to be eligible for its benefits and extends its scope of application to new housing -as long as it does not exceed the cost of €390,000 tax-free.
A youth plan that is no longer just for young people
The measure, announced by Housing Counselor Jorge Rodrigo during an informative breakfast, is part of the 2026-2027 Shock Plan recently presented by President Isabel Díaz Ayuso in the Debate on the State of the Region. According to the new tranches, the beneficiaries will be eligible for mortgages of up to 100% of the value of the property if they are less than 40 years old, 95% if they are between 40 and 45, and 90% if they are between 45 and 50 years old.
The initiative, which has already benefited more than 5,000 people, has the collaboration of eight banks (CaixaBank, Banco Santander, ING, Ibercaja, Unicaja, Kutxabank, Abanca and Sabadell). Until now, it only included second-hand housing, but from now on it will also cover new construction, thus widening the range of possibilities for applicants. Although this measure is presented as a solution to the housing problem, it reconfigures the conception of what is understood by “first home” and to whom it is addressed.
Beyond age: land, density and subsidies.
This extension does not come alone. The battery of measures announced by the regional government also includes a new Land Law, an increase in the buildability and density of land for subsidized housing and the implementation of 14,000 new homes under the Vive Plan. In addition, it is foreseen the conversion of privately-owned public spaces into affordable rental housing and the incorporation of 500 more homes to the Social Housing Agency’s (AVS) stock, which would thus reach 2,100 units. The figure, in any case, does not seem destined to solve a structural problem: from 2023 to 2024 the population of Madrid increased by almost 70,000 people.
