The Government launches to attract large investment funds so that they bet on the construction of social housing. For this, the Ministry of Economic Affairs has decided that it will give access to private investors to the new financing line of 4,000 million to make 43,000 new properties available to the public at affordable prices, according to sources from the Executive. In this way, the main real estate development giants will be able to access loans under better market conditions on the condition that they invest in building or rehabilitating social housing.
The properties that investors promote through the 4,000 million in credits will have a protection regime to prevent them from being used for a purpose other than social rental, add the same sources. The objective is to shield these leases at affordable prices through private channels and also through actions carried out by autonomous communities and town halls. The Government also contemplates a transfer of use of real estate at discounted prices for at least 50 years.
The mechanism chosen by Moncloa and the Ministry of Economy to promote this package of 4,000 million in loans for social housing is a new line of financing that will be included in the addendum to the Recovery, Transformation and Resilience Plan, they explain from the government economic area. Thus, the Ministry of Economic Affairs will incorporate a thirteenth line to this addendum, so that the 84,000 million in association loans to European funds, which Spain plans to officially request in the coming days, will undergo a restructuring.
The loans to promote social rental will be managed by the Official Credit Institute (ICO) and, specifically, will be aimed at the purchase of real estate for social rental or the acquisition of land on which buildings are built for the same purpose. The loans will finance both the promotion and rehabilitation of homes, as well as the expenses for the development of real estate actions.
Sánchez has described the percentage of public housing in Spain as "embarrassing", which is 3% of the total stock. The Government thus establishes the "need to build or acquire social housing" to promote this model.
To this ICO line of 4,000 million in loans associated with the addendum, which the Government is finalizing with the European Commission, we must add a 1,000 million project already approved in the Recovery Plan so that the territorial administrations can build, before August By 2026, 20,000 new homes for social rent in energy-efficient buildings, "can be developed through public-private collaboration formulas," contemplates the plan.
Sánchez's announcement is complemented by the mobilization of a total of 50,000 Sareb homes over the next few years to allocate them to social rent and with the unblocking of the housing law, which contemplates limits to increases in all rents and a price intervention in stressed areas, if the autonomies and city councils decide to apply the measure.
