Thu. Sep 21st, 2023
    Culmia to Launch Commercialization of Affordable Rental Homes in Madrid

    Culmia, a real estate developer, will be the first to launch the commercialization of rental homes under the Plan Vive in the Community of Madrid, offering discounts of over 20%. The company will begin the information process today for its promotion in Alcorcón, which comprises 274 units with prices starting from 500 euros. Prospective tenants can officially register until October 19th to apply for one of these apartments.

    To be eligible for these homes, potential tenants must be of legal age, have Spanish nationality or legal residence in the country, and meet the established income limits. Additionally, they must be registered and/or work in the municipality they are applying for, with a minimum of three years’ residency, and use the home as their primary residence without owning any other property in the country.

    The Alcorcón project offers one, two, and three-bedroom apartments, as well as parking spaces, storage units, communal pools, gyms, and green areas. Rental prices range from 520 euros for one-bedroom apartments, just over 700 euros for two-bedroom apartments, to over 900 euros for three-bedroom apartments.

    Culmia will be responsible for selecting the tenants, but all contracts must be approved by the administration. These contracts will be renewed annually based on the Consumer Price Index (IPC), as these are protected housing and not subject to the new index proposed in the housing law.

    The first allocation of the Alcorcón homes will take place in early December. The next promotions to enter the commercialization phase will be located in Tres Cantos, scheduled for early November, and Alcalá de Henares, planned for mid-December. The projects in Getafe and San Sebastián de los Reyes will be marketed in February and late March, respectively.

    The Plan Vive in Madrid aims to build affordable rental homes under an administrative concessions model. Culmia has been awarded Lot 3 of the first phase and the sole lot of the second phase, with land in several municipalities. Plan Vive II consists of 1,137 homes located in Boadilla del Monte, Pinto, and Colmenar Viejo.