The Asset Management Company from Bank Restructuring (Sareb) will launch ten real estate developments to build around 700 affordable rental homes in Catalonia, within the first phase of the Vienna state project, which will initially have 3,500 homes and 43 projects.
As explained by its president, Javier Torres, the company plans to reach 15,000 homes throughout Spain in several stages. To do this, Sareb will tender the projects to developers, to whom it will transfer the land for a period of between 65 and 80 years so that they can build the homes and exploit them for rent.
The land, acknowledged Pau Pérez de Acha, director of Sareb’s Social Housing area, is not in the metropolitan area of ??Barcelona, ??but in medium-sized towns where there is demand for housing. And they will put “affordable” housing on the market, which will be rented for prices that are on average 20% lower than those on the market in the area, so that tenants do not have to allocate more than 25% of their salary to pay the rent. rent.
The company has delayed the tenders, initially scheduled for this quarter, in order to ensure that the projects have financing from the EU’s Next Generation funds, as well as financing from the European Investment Bank (EIB).
Sareb, explained Javier Torres, has 13,300 homes in different social rental programs, of which 54% are in Catalonia, with 7,000 units. In the State as a whole, 6,000 rentals are managed directly by Sareb and 1,980 are in homes transferred in agreements to the autonomous communities, figures that in Catalonia are 3,201 and 1,540 respectively.
In the rentals arranged by Sareb, Pérez de Acha explained, 73% correspond to nuclear or single-parent families with an average of two minors in their care and another 17% to households in which there is at least one person with a disability.
Throughout Spain, some 28,000 people live in Sareb social rental housing. Torres and Pérez de Acha highlighted that the default rate is low, 8.5%, and that vulnerable families who have these social rentals earn only 896 euros per month, half of them coming from public aid.
Throughout Spain, the firm has 3,400 homes occupied by non-vulnerable people who do not wish to join its affordable rental program (for which they would pay a rent equivalent to a third of their income), and who are in the eviction process.
The company, Torres explained, has 21,000 finished homes, which the President of the Government, Pedro Sánchez, offered to sell to the autonomous communities. However, he recalled, “we have a live portfolio” since it continually executes unpaid loans from developers, which are its main asset, and obtains real estate.
