The allocation process, managed by the Municipal Housing and Land Company (EMVS Madrid), involved over 5,300 applicants who registered between May 11 and June 11. The final results will be available for consultation on the municipal company's website starting this Wednesday.
This development, funded by the city with an investment of nearly 15 million euros, targets individuals with stable incomes who are currently unable to access the private rental market. Beneficiaries must meet requirements such as being registered residents in Madrid for at least five consecutive years and not owning any other property.
“"The development is aimed at a segment of the population that, despite having stable employment and income, cannot access the free rental market due to current conditions."
The residential complex includes 52 units, with 16 two-bedroom and 36 three-bedroom apartments, including four units adapted for people with reduced mobility. Additionally, the building features 52 storage rooms and parking spaces for both cars and bicycles. Twelve of these homes have been reserved specifically for large families.
Regarding financial terms, the monthly rent will not exceed 30% of the family unit's income, ranging between 700 and 1,000 euros per month. The building is notable for being the first municipal project constructed using industrialized timber systems.
