The government’s pledge is to boost the supply of affordable and social rental housing across Spain. All current and recently announced programs combine to add 183,040 new homes. Data from the Ministry of Transport, Mobility and Urban Agenda shows the work will be carried out through a set of coordinated plans.
A total of 67,729 homes have already been activated, with 37% slated to be available soon. Of these, more than 67,000 fall under the Social Housing Fund (FSV), 14,000 belong to Sareb, and the remaining 43,318 are spread across various initiatives.
The executive has rolled out 15,017 homes in the Community of Madrid, the region with the most active projects. Many of these are linked to the Operations Camp, managed by Sepes, the State Land Corporation, the public partner of the Ministry of Transport. Barcelona follows with 5,897 flats, supported by State Housing Plans, Recovery Plan activity, Sepes projects, and agreements with local bodies.
Balearic Islands (2,870), Malaga (2,601), Seville (2,200), and Valencia (2,124) rank next. Provinces with fewer than 1,000 homes include Granada (879), Vizcaya (868), Cádiz (856), Las Palmas (806), Alicante (685), Zaragoza (644), Santa Cruz de Tenerife (623), Huelva (596), and Asturias (582). Albacete, Ciudad Real and Cuenca appear across the national landscape yet report no completed homes during this period. Zamora, Teruel, Soria, Palencia, Melilla, Huesca, Castellón, Cantabria, and Ávila also show no housing completions, while Jaén has only six homes.
state housing plans
The legislature’s primary housing effort began with the State Housing Plan 2018-2021, which opened roughly 8,504 properties. The successor, the State Housing Plan 2022-2025, carries a budget of 1,700 million euros. So far, the second plan has delivered 568 homes, with 1,244 additional units planned in Asturias and the Basque Country. Across both plans, more than 10,000 residences have opened in the last five years, averaging around 2,000 per year.
Healing, Transformation and Resilience Plan
The next major program, the Recovery Plan, focuses on conversion and resilience. To date, 14,129 of the anticipated 20,000 homes have been signed, mobilized, or financed. It carries a 1,000 million euro budget drawn from European Next Generation funds. The first 500 million was disbursed to autonomous communities in 2022, with another 500 million expected this year.
Distribution of the Recovery Plan’s 1,000 million euros shows the emphasis on regional deployment. This funding has supported the creation of 1,090 affordable flats in Valencia through public-private cooperation, backed by a 50,000 euro subsidy per home. Madrid has signaled plans to replicate this approach and recently held a competition aimed at delivering nearly 2,000 homes under Plan Vive.
In April, Prime Minister Pedro Sánchez announced an expansion of this program with an additional 4,000 million euros. A key feature is that both public and private promoters will be eligible for subsidies if they allocate rental units below market prices for at least 50 years. Real estate associations welcomed the news and await further details as they are issued.
State Land Establishment
Another core instrument is the State Land Establishment, a vehicle designed to accelerate residential construction. It currently holds around 15,957 flats that require urban planning and land development before construction can begin. Among these, about 10,700 relate to the Operations Camp partnership between Sepes and the Madrid City Council, which collaborates on development initiatives.
Last April, it was announced that Sepes would acquire additional land from the Ministry of Defense to build up to 20,000 more homes. However, these lands are not yet held by a public company connected to the Transport Ministry, which could slow their progression compared with earlier timelines.
Sareb
Sareb, the Asset Management Company arising from bank restructuring, remains a key part of the housing policy. In a recent strategic plan presented to the Senate, Sareb aims to allocate 51,000 rental homes. Of these, Sareb will dedicate 14,000 units to vulnerable households. Servihabitat is overseeing this effort, though current beneficiaries number around 2,150 families. In the medium to long term, Sareb plans to develop 10,000 to 15,000 flats on its land for affordable rent under public-private cooperation. Known as the Vienna Plan, this initiative is still in design and is expected to surface in 3-4 years.
Additionally, the government has indicated that autonomous communities and local authorities will have roughly 21,000 properties available to boost housing supply. These assets are predominantly located along the Mediterranean arc, as well as in Castilla La Mancha, Castilla y León, and Galicia.
Social Housing Fund
The Social Housing Fund (FSV) stands as the final pillar of the government’s strategy. It involves agreements with major financial institutions to transfer proposed properties to public administration. Beneficiaries are tenants facing eviction and presenting social vulnerability, with rents typically ranging between 150 and 400 euros per month and never exceeding 30% of the household’s net income. As of May 9, 10,411 homes had been mobilized, though the FSV’s own site lists a lower figure of 9,866 homes under its management.