Programa Reviva: Recuperación de casas vacías para alquiler asequible en Madrid
The Municipal Council of Madrid, through the municipal housing and land company in Madrid (EMVS Madrid), already has 167 houses attached to the Reviva program of the municipal company. This plan aims to improve the supply of affordable housing in the capital. To do this, homeowners give their home in usufruct to EMVS Madrid for a certain period of time, with all guarantees and agreed income perception, whether the property is rented or not.
The delegate for housing policies and the president of EMV Madrid, Álvaro González, visited one of the 167 houses that are part of the current Madrid Madrid.
In this way, the delegate explained: "We not only increase the Public Housing Stock and contribute to reducing current rental prices, but we also modernize these apartments, without homeowners bearing the immediate cost of renovations."
The Reviva program aims to improve the supply of affordable housing in the capital. To do this, homeowners give their home in usufruct to EMVS Madrid for a certain period of time, with all guarantees and agreed income perception, whether the property is rented or not.
The house that González visited this morning is located in the Uspera district, specifically on Antonio Priesto Street, was built in 1965, and presented a significant degree of deterioration, with outdated facilities and finishes over time that hindered its habitability. Due to this initial state, EMVS Madrid carried out a comprehensive renovation of the property.
The cost of this entire renovation was 40,000 euros, which will be gradually deducted from the monthly income received by the homeowner. On the other hand, the municipal company took care of the appliances, such as the extractor hood, the hob, the oven, the refrigerator, the microwave, the washing machine, and the dishwasher, at no cost to the property.
In the case of properties needing work, like the houses visited today, EMVS Madrid advances up to 45,000 euros at 0% interest and covers the VAT. This advance is gradually deducted from the monthly rent received by the homeowner, allowing them to improve and modernize their property without noticing and without experiencing the complications and inconveniences that construction work typically entails. The deduction amount is established taking into account the duration of the usufruct contract: at least five years up to a maximum of ten.
The rental price of this house, with three bedrooms and two bathrooms, approximately 62 square meters, will be a maximum of 758 euros per month, although future tenants will never pay more than 30% of their income. In this way, a new affordable rental home, with an income 15-20% below market price, is destined for Madrid.
Reviva Program Requirements
Through this plan, the municipal company fulfills comprehensive management that includes all administrative and legal procedures and allows the owner to fully delegate all efforts from the moment of signing the assignment, with the guarantee of the Local Council of Madrid. EMVS Madrid also covers the expenses of the homeowners’ association, home insurance, regular repairs, and property tax. Additionally, all expenses related to the assignment, both the surplus value and the registration in the property registry, are also the responsibility of the municipal company.
Regarding tenants, to access homes in the Reviva program, they must have weighted incomes up to 5.5 times the IPREM, meaning not exceeding 63,800 euros gross per year in the case of couples or single individuals, and not exceeding 68,400 euros annually in the case of four-member family units. With these public properties, future tenants will benefit from prices 15-20% below market value and will never pay more than 30% of their salary.
All requirements and conditions to access the Reviva program, both as a tenant and a homeowner, are published on www.emvsmadrid.es
Municipal Housing Benchmark
The Municipal Council, through EMVS Madrid, has a legacy of over 9,200 public houses for Madrid, positioning the capital in the top position of the ranking of public housing under an accessible rental scheme, according to the housing and land observer under the Ministry of Housing and Urban Agenda.
Additionally, the municipal company has nearly 6,200 houses in various projects and execution plans, with 1,734 of them already in progress in 22 developments. Meanwhile, another 2,200 rental apartments have started to address the housing demand, including public-private collaboration formulas for residential development in Berrocali and Nașii.
This high level of new housing construction led to EMVS Madrid being responsible for building three out of every ten homes constructed in Spain for affordable rent without purchase last year, according to data from the Ministry of Transport and Sustainable Mobility. All of this establishes EMV Madrid as the leading promoter of public housing in Spain.
