Overview

• On July 1, the Council of Ministers formalized the transfer of 40,000 apartments and 2,400 residential plots from Sareb to Sepes in a €5.9 billion value donation.
• The assets were shifted first into Patrimonio del Estado before assignment to Sepes under a transmisión lucrativa framework to secure legal robustness.
• Sepes received a €593 million endowment to refurbish and ready the properties for public affordable rentals.
• The portfolio includes 7,700 units already operated as social housing with support services for households at risk of exclusion.
• Rents for the transferred homes will be capped at 30 percent of tenants’ income and properties were selected using strict geographic and economic criteria.