Madrid Puts 26 Municipal Plots up for Sale for the Construction of 2,000 Affordable Rental Homes

6 May 2020 – Brainsre.news

These public plots, which span a buildable surface area of 151,651 square metres, will allow for the construction of more than 2,000 affordable rental homes.

Madrid City Council’s Urban Development team is going to put out to tender a total of 26 municipal plots, grouped into five lots on the basis of their building characteristics and locations for award under the land rights regime. These public plots will allow for the construction of more than 2,000 affordable rental homes, according to reports from idealista/news.

“It is the first time that a public administration in Spain is going to intervene in the rental market like this, which will contribute to a decrease in prices”, say sources from the Urban Development team. In total, the plots span a buildable surface area of 151,651 square metres and are distributed in 11 districts: Arganzuela, Carabanchel, Ciudad Lineal, Fuencarral-El Pardo, Hortaleza, Latina, Moncloa-Aravaca, Retiro, Villaverde, San Blas-Canillejas and Usera.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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