Overview
- City officials detailed a new EMVS rental track and assigned the first 52-home building in Barajas, with registration to open in the coming weeks and a lottery planned for June.
- Eligibility includes people aged 18 to 50 and families with minors who earn above 3.5 times IPREM but below new caps of 5.5 or 7.5 times IPREM, where IPREM is Spain’s public income index used to set aid.
- Applicants must be registered in Madrid for five straight years or eight of the past ten, cannot own a home, and cannot have recent convictions or eviction cases tied to illegal occupation, coexistence problems, or unpaid rent.
- The first project, Iberia Loreto nº1, was built with industrialized wood, cost €15 million, finished in 17 months, and will price rents so payments do not exceed 30% of household income.
- City leaders say the scheme complements existing EMVS lotteries for lower-income renters, while Más Madrid and the PSOE criticize the higher income ceilings and the age cutoff.