2023-04-16 16:10:55
This plan, picked up by El Periódico de España in March, includes 21,000 homes that communities and municipalities can buy to solve the housing emergency in their regions; up to 15,000 apartments to be built for affordable rent on Sareb land, by private companies; and the proposal for a social rental for 14,000 properties in an irregular situation.
Public administrations
Pedro Sánchez has announced that Sareb will put 21,000 flats at the service of the autonomous communities and town halls for sale. As Sareb explained to El Periódico de España, from the Prensa Ibérica group, it is about assets prepared to dispose of individualswhich the semi-public company will also offer to public administrations.
This formula is not new and has already been used on numerous occasions. Precisely this year, in the Valencian Community, Ximo Puig reached an agreement to acquire 500 flats from the entity for 50 million euros. Also, in recent weeks, the Xunta de Galicia bought 40 properties for 3.5 million and the Region of Murcia another 15.
The 21,000 units promised by the Prime Minister must be executed with the own funds of communities and municipalitiesbased on their budgets, which are normally very limited in terms of social housing.
affordable housing
The plan to build up to “15,000 public homes on available Sareb land”, announced by Pedro Sánchez in Valencia, is known as the Vienna Plan. It consists of a public-private agreement in which the ‘bad bank’ will cede parcels to companiessurely large developers and international investment funds, so that they build apartments for affordable rent, that is, tenants will pay a rent below market, between 10% and 30%.
This is a plan similar to the one that has already been implemented by the Community and the Madrid City Council or the Barcelona City Council and its metropolitan area. In this type of public-private collaboration format, the administration provides the land and the private sector provides the construction. Once the works are finished, the private sector rents the houses and receives the income for a long period of time, between 45 and 65 years. When the term expires, the administration recovers ownership of the assets.
Although its approval in the Council of Ministers is next week, it is a long-term plan. It is currently being designed by the consulting firm PwC and will be difficult to execute in a period of less than three or four years. Because? When the economic-financial and legal-tax advice from the ‘big four’ is finished and the final formula is designed, Sareb will have to launch a tender and attract investor interest. This appetite could be diminished by the policies that the Executive has approved, such as the Housing Law, which leave some of the business plans that international investment funds in Spain have designed in recent years in the air.
In the event that there are investors interested in this plan and they manage to move it forward, the adjudication period will take months. To this we must add the time needed to obtain the building permits and the construction itself, which can last for years. Furthermore, this plan is up against an industry that is only capable of producing 100,000 homes a year. The Community of Madrid itself, in its Vive Plan, wanted to tender the construction of 15,000 apartments during the current legislature and has only managed to carry out 6,600.
14,000 homes for vulnerable people
In the information sent by the PSOE to the media, it is detailed that the Executive “will promote social rental with the 14,000 homes already inhabited” of the Sareb park, a figure that the ‘bad bank’ has put at 10,000.
At the moment, This work is already underway and the management is outsourced to Servihabitat, the toxic brick management company of the US fund Lone Star and CaixaBank. This ‘servicer’ detects floors that are illegally occupied and, “one by one”, analyzes the situation of the residents, in order to find out if they are in a situation of vulnerability. In the event that it does not exist, the procedures to execute the eviction begin.
If the family or individual finds themselves in a problematic situation, the launch is paralyzed and a social rent is negotiated, which may not exceed 30% of the income they receive. For older people, they provide support to improve the situation of the tenant, with training and employment plans.
#Housing #Law #Sánchez #mobilize #homes #social #affordable #rental