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Madrid City Council Will Spend Another €12.5 Million on Social Rental Housing

The Town Hall has sent its sixth transfer of the year to the Municipal Housing and Land Company of Madrid (EMVS) so that it can continue to buy apartments in the second-hand market and build on new plots.

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EMVS homes owned by Madrid City Council.

Madrid City Council has made its sixth transfer of the year to the Municipal Housing and Land Company of Madrid amounting to 12.5 million euros. The money will be used to purchase flats in the second-hand market and to build new developments for social rental housing in Madrid.

Contributions from the Town Hall so far this year amount to 129.3 million euros all in. In total, the Municipal Housing and Land Company of Madrid has 38 promotions underway, comprising 3,200 homes. Of those, 1,475 are under construction and 1,700 are in the pre-construction phase.

Read the full article in Spanish.

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