The Municipal Company of Housing and Land of Madrid (EMVS Madrid) has opened registration for a lottery to award 52 public affordable rental units in the Iberia Loreto 1 development, located in the Barajas district. This initiative is aimed at young people and families with minor children and middle incomes. Registration is exclusively online via the EMVS Madrid website and will remain open until June 11.

The Deputy Mayor of Madrid, Inma Sanz, accompanied by the Delegate for Housing Policies, Álvaro González, and the councilor for Barajas, Juan Peña, explained that the goal is to help individuals with employment and financial stability who struggle to access the open rental market.

The lottery will take place before a notary on June 23rd at the EMVS Madrid headquarters and will be live-streamed on the municipal company's website and social media. All individuals who registered correctly between May 11th and June 11th will participate.

The Iberia Loreto 1 development, fully funded by the Madrid City Council with an investment of 14,618,794 euros, comprises 52 homes (four adapted for reduced mobility), 52 storage rooms, 78 car parking spaces, and 52 for bicycles. Of the units, 16 have two bedrooms and 36 have three bedrooms, with 12 reserved for large families.

According to the City Council, this is the first EMVS Madrid development specifically for middle-income residents and the first building constructed using industrialized wood systems, completed 17 months after the foundation stone was laid.

Monthly rents will range from approximately 700 to 1,000 euros, depending on the unit's characteristics. Additionally, successful applicants will not pay more than 30% of their family unit's income for rent.

Eligibility criteria include being under 50 years old, having minor children, incomes between 3.5 and 5.5 times the IPREM (roughly 68,000 euros gross annual income for a couple with two children), having been registered in Madrid for at least five consecutive years or eight out of the last ten, and not owning another property in Spain. Furthermore, no family member can have been convicted of crimes related to illegal housing occupation or rent non-payment, nor be involved in eviction proceedings due to cohabitation issues in the past five years.

All information regarding the development and the lottery rules can be found on the EMVS Madrid website.