The allocation process involved over 5,300 applicants who registered between May 11 and June 11. This development is a municipal initiative aimed at facilitating housing access for citizens with middle incomes who, despite being employed, face difficulties in the open market.
The units are intended for individuals up to 50 years old with incomes between 3.5 and 5.5 times the IPREM. Among the requirements, beneficiaries must have been registered as residents in the municipality of Madrid for at least five years and must not own any other property.
“"With this allocation, the capital's City Council takes another step in expanding its public housing policies to serve a segment of the population that, despite having stable employment and income, cannot access the free rental market due to current conditions."
The construction of Iberia Loreto 1 involved a municipal investment of nearly 15 million euros. The building stands out for its use of industrialized wood systems and was completed in 17 months. The development includes 52 storage rooms, 78 car parking spaces, and 52 bicycle spaces, as well as four units adapted for people with reduced mobility.
The monthly rent, which includes a parking space, will range between 700 and 1,000 euros, never exceeding 30% of the family unit's income. EMVS Madrid has reserved 12 of these units specifically for large families.
