The Spanish government has revealed details of its new public company “Casa 47,” designed to tackle the housing crisis. The project will be officially approved on December 9. Its name refers to Article 47 of the Constitution, and its main goal is to create a permanent state housing stock protected from privatization and speculation.
The core idea of the reform is the introduction of rental contracts lasting up to 75 years, effectively granting lifetime residential rights. Conditions will be reviewed every 14 years to confirm that tenants still meet program income criteria. The target group is the middle class (income from 2 to 7.5 IPREM), who cannot afford a mortgage yet do not qualify for social housing for low-income families.
Rent prices will be completely decoupled from market rates and construction costs. The rule is strict: payments cannot exceed 30% of the average income in the area.
“Casa 47” will receive 40,000 ready-to-use flats and land for another 50,000 from the “bad bank” Sareb. Additionally, the government is allocating €100 million for the urgent acquisition of private housing to immediately expand the rental stock.
Full system rollout is planned for 2026, when a single online platform will go live, allowing applicants to choose a flat and submit requests. Authorities promise to release new batches of affordable housing every quarter.
The core idea of the reform is the introduction of rental contracts lasting up to 75 years, effectively granting lifetime residential rights. Conditions will be reviewed every 14 years to confirm that tenants still meet program income criteria. The target group is the middle class (income from 2 to 7.5 IPREM), who cannot afford a mortgage yet do not qualify for social housing for low-income families.
Rent prices will be completely decoupled from market rates and construction costs. The rule is strict: payments cannot exceed 30% of the average income in the area.
“Casa 47” will receive 40,000 ready-to-use flats and land for another 50,000 from the “bad bank” Sareb. Additionally, the government is allocating €100 million for the urgent acquisition of private housing to immediately expand the rental stock.
Full system rollout is planned for 2026, when a single online platform will go live, allowing applicants to choose a flat and submit requests. Authorities promise to release new batches of affordable housing every quarter.
