Diario de Madrid
- Álvaro González, Madrid’s Housing Policy Councillor and President of EMVS Madrid, visited the development together with Ángel Ramos, Councillor for Vicálvaro.
- The Cañaveral 11 development has involved an investment of more than €12 million for the construction of these 45 new homes, which include 64 parking spaces and 45 storage units.
- The rent for these homes will never exceed 30% of household income, and most of the properties will be allocated to young people and families with dependent children.
- The homes have an A energy efficiency rating and feature an aerothermal heating system together with underfloor heating and cooling.
- The City Council has already delivered eight of the 13 municipal public housing developments planned in this new urban expansion area.
- The City Council’s housing company manages a portfolio of around 10,000 public homes and has more than 5,700 additional units in different stages of development, placing Madrid at the top of the ranking for affordable public rental housing in Spain.
The City of Madrid has completed construction of Cañaveral 11, one of the 13 developments that the Municipal Housing and Land Company of Madrid (EMVS Madrid) is building in this Vicálvaro neighbourhood to provide affordable rental housing, primarily for young people. This was highlighted by Álvaro González, Madrid’s Housing Policy Councillor and President of EMVS Madrid, during his visit to the development, which comprises 45 homes, together with Ángel Ramos, Councillor for Vicálvaro.
The 45 homes in Cañaveral 11 each include a dedicated storage unit. Seventeen of the apartments have two bedrooms, twenty-four have three bedrooms, and four have four bedrooms. The development also provides 64 parking spaces.
The ground floor will accommodate the communal areas, bicycle parking facilities, a children’s play area, and landscaped gardens.
“The monthly rent that future tenants will pay for their homes will never exceed 30% of the household’s income,” González stressed. This measure facilitates access to housing for young people and families with dependent children whose income does not exceed 3.5 times the Public Multiple Effects Income Indicator (IPREM). This means that, for example, a couple with two children may have a maximum gross annual income of approximately €44,000.
More than €12 million (€12,016,025), including the value of the land, has been invested in the construction of this development. Of this amount, more than €9.8 million (€9,838,516) has been provided by the City of Madrid, while the remaining €2.1 million comes from the European Union’s NextGenerationEU funds, under the agreement between the Ministry of Housing and Urban Agenda, the Regional Government of Madrid, and Madrid City Council.
The building has been awarded an A energy efficiency rating, combining low energy consumption with a high level of comfort. The homes feature cross-ventilation and are equipped with aerothermal energy systems, a climate-control technology that uses heat exchange to harness energy from the air and convert it into heating, cooling, or domestic hot water. As a result, tenants benefit from lower energy costs while also contributing to environmental sustainability, supporting economic efficiency, and extending the lifespan of the homes.
The energy-efficiency measures extend to the rest of the building as well. Cañaveral 11 is equipped with rooftop photovoltaic panels that supply electricity to the communal areas, in addition to LED lighting with motion detection and timer-controlled systems.
El Cañaveral: a new residential neighbourhood for young people
Through EMVS Madrid, the City Council is building a total of 1,212 affordable rental homes in El Cañaveral, distributed across 13 housing developments. Eighty percent of these homes, more than 1,000 units, will be allocated to young people and families with dependent children, increasing their opportunities to achieve independent living and start their own household in accommodation that meets their needs.
Of the 13 public housing developments planned in this new urban expansion area, EMVS Madrid has already handed over eight of them to their tenants (Cañaveral 1, 2, 3, 4, 5, 6, 9 and 12). The allocation draws for Cañaveral 8 and 13 have already been held, while the draws for Cañaveral 10 and 11 are scheduled to take place at the beginning of 2027. Meanwhile, construction work on Cañaveral 7 is close to completion.
Madrid, Spain’s leader in affordable public rental housing
The City of Madrid has consolidated its position as a national benchmark in public housing thanks to the work of EMVS Madrid, which manages a portfolio of approximately 10,000 public homes and has more than 5,700 additional homes in various stages of development. These include 2,200 homes from the two phases of the Suma Housing Plan, which are already under way.
According to the Housing and Land Observatory of the Ministry of Housing and Urban Agenda, these figures place Madrid at the top of the ranking for affordable public rental housing in Spain.