Madrid expands housing access through new construction and mortgage guarantees

Madrid is implementing new measures to expand housing access through both public construction and financial guarantees. The Municipal Housing and Land Company (EMVS Madrid) has begun constructing 71 affordable rental units in the Carabanchel district. These projects, known as Carabanchel 28 and Carabanchel 35, aim to provide diverse housing options for young people and families, with rent costs capped at 30% of tenants' income.

Simultaneously, the Community of Madrid has expanded its ‘Mi Primera Vivienda’ (My First Home) guarantee program. The updated policy increases the maximum property value for eligible homes to 425,000 euros and extends the age limit for buyers to 50 years. The program provides public guarantees to banks, allowing for mortgage financing of up to 100% of the property value for those under 40, 95% for those aged 40 to 45, and 90% for those aged 45 to 50. Families with minor children are also eligible regardless of age.