Those interested in participating in the lottery for the Iberia Loreto 1 development, which offers 52 public affordable rental homes, must register online before June 11. This initiative seeks to facilitate access to housing for a segment of the population that, despite having economic stability, faces difficulties in the free rental market.
“"This first lottery allows us to expand access to public housing under an affordable rental regime for Madrid residents with average incomes who, despite having employment and economic stability, cannot access the free rental market under current conditions."
The development, representing a municipal investment of nearly 15 million euros, includes 52 homes (four of which are adapted for people with reduced mobility), 52 storage rooms, 78 parking spaces for cars, and 52 for bicycles. This is the first building by the municipal company constructed with industrialized wood systems, completed in just 17 months.
The rental price for the two and three-bedroom homes, which include a garage space, will range from approximately 700 to 1,000 euros, depending on the size. Furthermore, future tenants will never pay more than 30% of their household income for rent. EMVS Madrid has reserved 12 homes for large families.
To access these apartments, applicants must be residents of the municipality of Madrid with a minimum continuous residency of five years or eight years within the last ten. Household income must be between 3.5 and 5.5 times the IPREM, which, for example, for a couple with two children, would imply a maximum annual gross income of approximately 68,000 euros. They must not own or have a real right of use or enjoyment over another home in Spain.
Additionally, none of the household members can have been convicted of crimes related to illegal occupation, nor for non-payment of rent or in eviction proceedings due to coexistence issues in the last five years. All detailed information regarding the lottery rules is available on the EMVS Madrid website.
