In Madrid, the president of the Generalitat presented a notably positive housing initiative. The plan aims to mobilize up to 50,000 homes to be allocated as social rentals. The Community of Valencia will be a key beneficiary of this scheme, with the market opening a path for more affordable housing options across the region.
During an event in Cullera, the regional leader stressed that the autonomy is stepping up its efforts. He noted that around 20 percent of all homes in the country come from property assets commonly known as the bad bank stock. This does not imply that the Valencian Community will receive a proportional slice of the 50,000 homes, but it does enhance the capacity of Valencia to maximize the plan. The Valencian Government argues that its share is larger than its demographic weight would suggest, given population size.
Through this approach the president expressed a clear intention to cooperate with the public rental market to achieve greater scale. The objective is to create thousands of rental opportunities for young people and others in need to secure stable housing.
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Pedro Sanchez announced a measure on the previous Sunday that affects Sareb holdings. The plan directs Sareb to approach regional governments and municipalities about 21,000 homes currently in the portfolio across Spain. It also envisions converting 14,000 homes currently occupied, while promoting the construction of 15,000 public houses on municipal or private plots. Distribution by region remains to be clarified, but Sareb does provide a useful snapshot of available properties in each area.
Data from the Generalitat and Sareb show that the Valencian Community concentrates 8,897 of the 46,542 residences owned by Sareb, accounting for 19 percent. There are 3,403 of 14,202 homes where the bad bank is under construction, representing 24 percent, and 6,388 of 24,619 plots owned, about 24.9 percent.
In Alicante province the figures are smaller: Sareb currently owns 1,801 completed homes, about 3.8 percent; 677 residences are under construction, around 4.7 percent; and 1,274 plots, approximately 5.1 percent.
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The regional leadership addressed questions about including vacant homes in the measure. He indicated that some aspects fall under government jurisdiction while others do not, but made it clear that the process to open the program is firmly on track. The housing measures are expected to play a major role in the next legislative term.
He added that the moment comes after a tough period for major financial institutions in the Valencian Community, a context that has created a unique opportunity for residents while the Spaniards who supported the recovery funded these developments.