Spain

Madrid accounts for 53% of subsidised housing built in 2024

Madrid accounts for 53% of subsidised housing built in 2024

Madrid has become the epicentre of subsidised housing in Spain in 2024. Of the 23,967 provisional qualifications requested in the country, 12,648 (53%) correspond to the Community of Madrid, according to available data. This represents an increase of 682% compared to 2023, when the region registered 1,854 subsidised housing units.

This growth has been possible thanks to various measures adopted within the framework of the Regional Housing Pact, which already has eight of its ten measures in force. These include the updating of the maximum prices for subsidised housing, implemented in February 2024, the simultaneity agreements in developments such as Los Ahijones and Los Berrocales, and the application of the law on change of use, which has boosted subsidised housing in areas such as Valdebebas.

Carolina Roca, president of the Association of Real Estate Developers of Madrid (ASPRIMA), declared that ‘these figures are great news for the sector’ and highlighted ‘the commitment of developers to affordable housing’. According to Roca, the increase in supply is a direct result of the measures of the Regional Housing Pact. ‘We must continue to eliminate bureaucratic hurdles, activating land and strengthening public-private partnerships,’ he said.

Furthermore, 68% of housing starts in the Community of Madrid in 2024 will be subsidised, increasing the trend of promoting this type of construction. However, ASPRIMA stresses the need to update the regulation of subsidised housing, based on a 2009 regulation, as a significant step to continue to encourage investment in affordable housing.

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