The housing crisis is increasingly affecting young Spaniards. According to data from the European Statistical Office, more than 65% of people between the ages of 18 and 35 live at home with their parents. This figure even exceeds that recorded in the first stage of the 2008 crisis. In response, large cities such as Madrid have organized mass demonstrations in which the population has shown that it is fed up with real estate speculation.
To alleviate the general tension in the face of rising housing prices in Madrid, the City Council has announced that it will raffle 205 rental homes in Vallecas for €500 per month. The initiative aims to enable young people in the municipality to have access to a roof over their heads without having to spend more than 30% of their salary on it.
What are the requirements to enter the draw?
Those under 35 years of age who have an annual salary that does not exceed 3.5 times the Public Multiple Effect Income Indicator (IPREM), or in other words, who have a salary equal to or less than 41,370 euros gross per year, may apply for this raffle. In addition, they must meet the following requirements:
- Not to be holders of full ownership, use or enjoyment of another dwelling.
- Residing or working in the municipality of Madrid.
- Not be tenants of a publicly owned or managed housing.
Those who meet these conditions may fill out the Application for Registration in the Permanent Registry of Applicants for Housing. This document can be completed and sent electronically from the website of the Empresa Municipal de la Vivienda y Suelo (EMVS).
What are the new apartments in Vallecas like?
The houses that fall within the lottery are located in Nuestra Señora de los Ángeles street, which belongs to the Vallecas eco-neighborhood: an urban development project that seeks to improve the sustainability and energy efficiency of housing.
The new apartments are divided into two blocks that share a common green space to encourage coexistence among young tenants. Each apartment has central heating, a thermally insulated facade (to avoid heat islands), doors and windows made of PVC carpentry and pneumatic waste collection. Undoubtedly, it is a good opportunity to rent a quality roof at an affordable price.