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Valencia City Council to buy 134 social housing units in La Torre for €9 million

The purchase secures protection for vulnerable tenants by preserving existing leases until the building joins Valencia’s affordable rental stock under longstanding law.

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El concejal de Urbanismo, Juan Giner
Edificio de la Torre que va a comprar el Ayuntamiento de València a 67.000 euros el piso.
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Overview

  • Valencia City Council announced on May 26 that it will pay €9 million to acquire a 134-unit social housing block in La Torre, blocking a planned sale to Ktesios Real Estate Socimi.
  • The building includes 76 parking spaces and 60 storage rooms, and its acquisition price of around €67 000 per unit is well below Valencia’s free-market rates.
  • The council will assume existing contracts for pensioners, low-income families and other vulnerable tenants and guarantee their leases until they expire.
  • Protected by a 2004 public housing law, the purchase will proceed even if the regional government votes to repeal the expanded 2020 pre-emption decree this week.
  • Local opposition and tenant groups have applauded the move but urged wider use of pre-emption rights in future housing acquisitions.