VALENCIA BUYS UP LOW COST HOUSING

Regional government will purchase to let them out to people in need

THE VALENCIA government will stump up around €50 million over the next three years to buy resale properties which will be converted into social housing for people who cannot afford rising rents.

These will be purchased throughout the region, with main targets being Valencia, Alicante, Torrevieja, Elche, and Castellón.

Councillor for housing and public works, María José Salvador explained that these are the areas with most need and the longest lists for people waiting to be housed.

She noted that the regional government will spend on average between €80,000 and €90,000 for one and two bedroom properties, although this could be lower in some areas. These will be let out at ‘accessible prices’.

In the first instance the department will purchase around 160 properties with an initial spend of €15 million.

This will be done in August and September via a public tender process.

“This will allow us to choose the most adequate homes which will be tailored to needs established through our investigations and market study,” noted Sra Salvador .

The councillor said they will purchase properties from companies, estate agencies and private vendors.

These will be furnished and ‘in a condition to be occupied immediately’.

She noted that they will not buy slum properties and want to guarantee ‘good homes’ for people who would otherwise not be able to afford them.

They will take into consideration points such as the position of the property in a municipality, the characteristics of the home, etc.

The properties will have to be in apartment blocks inhabited by families, which have a lift and are less than 40 years old, she noted.

Sra Salvador said the regional government is aiming to increase the amount of social housing which it has to offer, as the current stock is highly insufficient.

“We want to be able to guarantee a decent home for all people in the region and for this reason we are increasing the number of properties which we have to offer,” she explained.

She added that high market prices mean many people cannot afford to pay rent.

Around 16,000 families are on housing waiting lists in the Valencia region.

“It is a priority of this government to provide a solution for them,” she noted.