The Community of Madrid will launch a public competition before the end of this year 1,2 million m2 of land to build new affordable housing, especially aimed at young people. Within the framework of the so-called ‘Plan Vive’, the executive plans to lift 15.000 affordable apartments for sale and rent in this legislature. Isabel Díaz Ayuso, President of the Community, has indicated that they will contribute to increasing the supply of rental housing.
Díaz Ayuso has presented the regional pact for housing, a pact that arises to make the real estate sector stronger after the covid-19 pandemic. The president of the Community of Madrid recalled that the real estate sector is one of the economic pillars of the CAM, since it constitutes the 15% del PIB from Madrid and provides the 7% direct employment and 15% indirect employment.
In Ayuso's words, "Housing will be an economic engine" for Madrid, so they will review, among other things, the financial and mortgage system to facilitate the purchase and rental of housing, especially rent. And they also want there to be sufficient financing for housing promotion.
Also, CAM wants to improve housing taxation by reviewing the effect of state taxes, regional and local in the price of housing, as well as in its production, although you have not specified how.
Also, Ayuso is committed to supporting the social economy and in particular housing cooperatives, as well as increasing the public housing stock through public-private collaboration. Definitely, with this regional pact for housing, hope to create 130.000 Job positions.