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Madrid to Sell Land for Housing for 30 Million Euros

The Madrid City Council has put nine plots of land out to tender for more than 30 million euros. The land is sufficient to build 234 homes, which will be sold at market prices.

Through its urban development department, Madrid’s city council has put nine plots of land on the market for the construction of free housing, for which it expects to raise more than 30 million euros.

On May 28, the tender for the sale of the plots of land owned by Patrimonio Municipal del Suelo was published on the state contracting portal. Identified as Lots 1 to 9, they are for free residential use and will be awarded by open bidding, according to El Confidencial.

Two of the plots are located in the district of Arganzuela, one in Hortaleza, another in Moncloa-Aravaca, three in Carabanchel, one in Puente de Vallecas and another in Villaverde. The price of the plots ranges from €1.4 million in Carabanchel to €13.9 million for the most expensive one in Valdebebas, in the district of Hortaleza.

These plots will allow for the construction of 234 free housing units that should be ready within two years of the building permits’ approval. In total, they add up to a buildable area of more than 19,000 square metres.

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