The Ministry of Transport, Mobility and the Urban Agenda has proposed subsidising property development for renting with up to 47,250 euros per dwelling so that rental prices are limited to 7.5 euros per usable m2.
According to the plan, the government plans to set up a programme to promote the private rental housing stock. It will be open to new housing developments or housing resulting from the refurbishment of buildings that are to be transferred for use or leased for a minimum period of 15 years.
Developers will be eligible for a subsidy of up to 450 euros per m2 of usable floor area of housing. In any case, the maximum amount of aid may not exceed 50% of the investment and may not exceed 47,250 euros per dwelling. Likewise, this subsidy is compatible with any other subsidy granted by other public administrations.
In turn, developers will have to set the price of rent or transfer of use at a maximum of 7.5 euros per m2, and could therefore ask for a maximum rent of 600 euros per month for a flat of 80 m2. To this figure may be added 60% of the price per m2 fixed for each m2 of useful surface area of parking space, storage room or any other annexed surface area that are not common elements.
This price will be fixed for one year. In the following years, it will be revalued in accordance with the CPI. Likewise, the landlord may add to the fixed rent the real cost of the services enjoyed by the tenant and paid by the landlord.
On the other hand, the Plan also envisages an increase in the public housing stock through the purchase of real estate. The administrations that use the plan’s funds to buy housing will have to use it for social renting for at least 50 years, and the Ministry will subsidise 60% of the price of the housing, including taxes, fees, notary and registry fees and any other associated costs.
These homes will be more affordable and will be limited to a maximum price of 5 euros per square metre, so an 80 square metre apartment will cost 400 euros. As in the previous plan, 60% of other spaces will be added and the final rent will be revalued each year with the CPI.
Thirdly, the Ministry has also proposed a programme to “promote temporary accommodation, cohousing models, intergenerational housing and similar modalities”.
Developers of this type of housing will have to rent it out for 20 years. The government will be able to grant them a subsidy for the useful surface area of both the accommodation and the common spaces of up to 420 euros per m2. In total, the aid may not exceed 50% of the investment, with a maximum limit of 50,400 euros per dwelling.
This type of housing is the one with the highest price, as the Ministry will accept maximum rents of 10 euros per square metre of usable area. Like the others, it will be revalued with the CPI each year.
Finally, the plan also envisages a subsidy programme for private landlords who decide to make their homes available to public administrations.
In this case, the cession will have to be for a minimum of 7 years and the maximum rent will be 400 euros per month. This price will be adjusted annually according to the CPI. In turn, the owners will receive aid equivalent to half the difference between the social rent determined by the autonomous community and the average rent of the census section established by the State System of Rental Price Indices (Sistema Estatal de Índices de Precios del Alquiler).
Likewise, in the event that refurbishment or adaptation work is required, the Ministry will pay up to 4,000 euros for such work, although the total may not exceed 75% of the total budget.
