The "Empresa Municipal de la Vivienda y Suelo" (EMVS - "municipal company for housing and land") has today added 42 flats in the Carabanchel district that were owned by the Sociedad de Gestión de Activos Procedentes de la Reestructuración Bancaria (SAREB) to its assets. With the completion of this purchase operation, the EMVS increases the municipal stock of affordable rental housing in the city of Madrid. The price of this sale and purchase, which also includes 42 associated storage rooms and 10 parking spaces, was close to 5 million euros (€4,977,300).
Although the transaction was closed today, the EMVS had been in usufruct of these homes since June 2022, as a result of an agreement signed with SAREB which established a period of four years for the purchase transaction. However, given that at that time most of the homes were not in optimal conditions of habitability or safety, EMVS has been responsible for refurbishing them to meet the criteria for their inclusion in the Comprehensive Rental Plan. In addition, the EMVS carried out the required regulatory modifications to the facilities of those that needed it.
Once they had been refurbished, they were included, like the rest of the EMVS properties, in the regular maintenance programme. Following the inspections carried out, which guaranteed habitability and safety conditions and, as a result of the reforms requested, executed and supervised by the municipal company, they were considered suitable for incorporation into the assets and made part of the affordable rental programmes. This has been materialised with today's sale and purchase.
These homes, which are already inhabited, mostly by young people, have a rental price of between 300 and 450 euros per month, including the owners' community fees.