UGT Madrid denounces real estate operation affecting 5,400 public homes
The union warns about the sale of social shares that could circumvent tenants' preferential acquisition rights in the Community of Madrid.
By Redacción La Voz de Madrid
••3 min read
IA
Generic image of a hand holding a house key with blurred apartment buildings in the background.
UGT Madrid has raised an alarm about a new real estate operation involving the indirect transfer of approximately 5,400 public homes in the capital, a maneuver that, according to the union, seeks to circumvent tenants' preferential acquisition rights.
The trade union organization has indicated that this operation, executed through the sale of social shares, represents a new administrative “outrage.” This type of transaction began during Ana Botella's (PP) tenure as mayor of Madrid, according to the complaint.
“
"There are 156 affected families who claim their right of first refusal and pre-emption and who risk being left homeless without housing alternatives. These families lose their homes and are left with nothing, without rehousing, without help, with children and elderly people due to institutional impassivity."
A lawyer representing the affected families recalled that the conflict dates back to 2013, when the Municipal Housing and Land Company (EMVS) sold these developments to speculative funds without notifying the tenants. The lawyer highlighted the lost profits from the operation, stating that the homes were purchased for prices between 60,000 and 70,000 euros and are now intended to be sold for 300,000 or 400,000 euros.
One of the most controversial points is the shift in the Supreme Court's stance. According to the lawyer, the High Court issued a favorable ruling for four families in November 2024, but just 62 days later, with the same rapporteur and concerning the same public deed, it ruled in the opposite direction for another group of affected parties. The lawyer described the situation as “inexplicable” and has sought protection from the Constitutional Prosecutor's Office, not ruling out recourse to European justice.
“
"These are the most expensive homes in history due to the personal and family toll they take."
The spokesperson for the affected parties described the situation as a strategy to commercialize a constitutional right and called it “institutional terrorism” that the administration has turned “vulture funds” into landlords for vulnerable families. She emphasized that many of these families have already paid more than 200,000 euros in rent without obtaining any guarantee of permanence.
The complaint to the National Commission for Markets and Competition (CNMC) is UGT's latest avenue to halt what they consider a fraud against tenants' rights. The organization demands the protection of the right to remain in housing under a stable lease, as established by Article 47 of the Constitution.