€8.8 Million Grant To Boost Public Housing In Benidorm And Valencia

The location authorities of nan Valencian Community has approved a assistance of €8.87 cardinal to support nan building of 221 affordable rental homes successful Benidorm and Valencia. The project, funded done nan European Union’s NextGenerationEU programme, is portion of Spain’s nationalist Recovery, Transformation and Resilience Plan (PRTR) and intends to summation nan readiness of sustainable nationalist housing.

In Benidorm, 117 caller energy-efficient homes will beryllium built successful a azygous residential complex, complete pinch parking spaces and retention rooms. The coastal city, celebrated for its tourism manufacture and high-rise skyline, has seen expanding unit connected nan lodging market, pinch galore properties converted into short-term vacation lets. This has near residents facing rising rents and constricted entree to semipermanent affordable housing.

The remaining 104 homes will beryllium developed successful nan Malilla neighbourhood of Valencia. Both projects are scheduled for completion by 30 June 2026.

70-square-metre flat

To guarantee affordability, nan Generalitat has group a rental headdress of €10.46 per quadrate metre. This intends that a 70-square-metre level successful either Benidorm aliases Valencia cannot beryllium rented for much than €732.20 per month. The rent will beryllium proportionate to nan usable aboveground area of each home.

The strategy is spearheaded by nan location section for societal services, equality and housing. Authorities dream that these developments will not only alleviate unit connected nan section lodging marketplace but besides lend to biology goals by focusing connected energy-efficient building standards.

Property market

Benidorm, a metropolis that attracts millions of visitors each year, is struggling pinch nan consequences of a spot marketplace dominated by backstage finance and vacation rentals. Local campaigns person many times called for much nationalist lodging and amended rent regulation.

This caller improvement is 1 of nan astir important state-funded interventions successful nan section rental marketplace successful caller years, and comes amid wider nationalist efforts to tackle Spain’s lodging situation done greenish investment.