Madrid (EFE).- In recent days, the Government has announced actions to promote 93,000 social or affordable rental homes, newly built or to be rehabilitated, financed by European funds or ceded by Sareb. How and where are these houses? This is the X-ray.
50,000 Sareb homes
Of these, 35,000 are already built and 15,000 new ones will be built on land they own, which they will sell or transfer to autonomous communities and town halls.
Of those 35,000 that already exist, 21,000 want to be sold or transferred to the communities (administrations on which housing powers fall) for social use, while another 14,000 are already inhabited, a large part of them illegally occupied, so it would be to regularize their situation.
Regarding the nearly 21,000 that the Government intends to transfer to communities and town halls, 9,000 are already available and 12,000 are pending completion and habitability works.
Terrible condition and locations without demand
Precisely the terrible state of these homes, together with their location in areas without demand, are the weak points of this plan, as the real estate sector has alerted, although the Ministry of Economic Affairs guarantees that Sareb will put these homes up for sale “in perfect condition”, after the corresponding adaptation.
The Idealista portal ensures that 60% of Sareb houses are in areas of “low demand” and 3% in places with “very low” demand; compared to 27% who are in areas of “high demand” and 10%, of “very high demand”.
The territorial distribution of these 21,000 homes is as follows: Valencia, 4,950; Catalonia, 3,539; Castilla y León, 2,288; Murcia, 2,093; Andalusia, 2,040; Castile-La Mancha, 1,534; Galicia, 1,285; Cantabria, 611; Aragon, 580; Madrid, 455; La Rioja, 388; Extremadura, 305; Canaries, 303; Asturias, 171; Balearic Islands, 120; Basque Country, 81 and Navarre, 25.
As for the land that Sareb wants to sell or assign to the communities so that they can build another 15,000 affordable rental homes, 60% are concentrated in the Mediterranean arc, mainly in Catalonia, the Valencian Community and Andalusia.
According to Idealista, 80% of these lands are in municipalities where the rental demand is “low or very low”.
Take advantage of one hundred percent
In total, Sareb -created eleven years ago to buy problematic real estate assets from bankrupt banks and savings banks in the 2008 financial crisis- has a property portfolio of up to 46,542 homes built and 24,619 units of available land.
The objective of the economic vice president Nadia Calviño, who has controlled the management of the company for a year, is to “take advantage of one hundred percent” of these assets to “reconstitute” a public housing stock in Spain.
43,000 affordable rental apartments with European funds
In addition to the Sareb homes, the Government has announced an ICO facility endowed with 4,000 million euros from European Next Generation funds, to finance another 43,000 social homes, which will be newly built and also rehabilitated.
All the financed actions must meet energy efficiency conditions, be homes for social rental or affordable rental and with a lease of use for at least 50 years.
The Association of Builder Promoters of Spain (APCE) has already warned that, for the private initiative to get involved, the profitability of these projects should range between 6% and 8%, with current interest rates.
Housing Law
The creation of a public housing park is included in the Law for the Right to Housing that the PSOE, UP, ERC and Bildu are about to approve in Congress.
This law, in the absence of its final approval next May, sets the goal of raising the number of social housing to 20% of the total stock within a period of 20 years, which would mean having 4.6 million more those that currently exist.
The housing law also directs communities to promote the existence of “incentivized affordable housing”, with specific destination limitations for a certain time and maximum rental price limits.
This new type of housing may be a new development or be already existing housing.
Likewise, to promote protected housing for rent at a limited price, the law will force (with exceptions) to reserve at least 40% of the planned residential buildable area on rural land that is going to be urbanized and 20% on urbanized land that is going to be developed. to undergo reform or renewal actions.