Madrid needs to build a lot to relieve its serious housing crisis. You already have a (mini) plan to achieve it

Madrid You need housing. A lot of housing. If the city wants to solve its mismatch between supply and demand and thus stop The climbing Price that he has long suffered needs to strengthen his market. It is not a simple task. Over the last years the capital has Moved file for example to avoid the escape of floors towards the holiday rental or clear land in which Raise new houses. With that backdrop, his City Council has just taken an important step with which he hopes to create hundreds of households in a new urban widening.

Objective: to stop one of the Great challenges of the capital.

What happened? That Madrid has taken an important step that will allow (partly) to relieve one of its most pressing problems: The lack of housing. A few days ago the City Council advanced in the procedures to clear the situation of an area of 218,000 m2 located east of the capital, together with San Fernando de Henares and Coslada, and in which 700 houses will be built, 50% official protection.

What exactly? Advance in the long bureaucratic journey that the project has to complete before the first stone is placed. Last week the Government Board of Madrid approved Submit to the public information process the Sector Plan for the ‘Development of the East-Esanche of San Fernando’. The objective: ultimately, order the land located next to San Fernando de Henares and Coslada to “transform” with green areas, services … and houses.

The Governing Board also approved to send the document to the Community of Madrid to activate two other essential bureaucratic gears: the strategic environmental assessment and the territorial impact report. For now, the project already has a favorable report from the General Planning Directorate.

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Where will it be built? East of Madrid. To be more precise, near the roads M-45 and M-50 and the Regional M-206, between the towns of San Fernando de Henares and Coslada. Towards the East limits with the Parque Roma-Coronas neighborhood (S. Fernando de Henares), to the Oste with Jarama (Coslada) and to the south beautiful with the hills (Madrid). The Consistory recalls that under the ground the Metro line 7 runs, not far away are the Central Coslada and S. Fernando.

The idea is not to build only 700 homes, green areas and other equipment, but “integrate” the new neighborhood into the surroundings, especially with Romoronas Park and Jarama, “giving continuity and harmony to the whole set, also with the metropolitan forest,” Clarify José Luis Martínez-Almeida’s team. The Consistory wants to integrate the improved road into the urban framework, preventing it from acting as a kind of “barrier”.

Why is it important? Because among other things the Ensanche of San Fernando plans to create about 700 new homes, half with some degree of public protection and the rest available for the free market. And that is an important news in a city that suffers a deep mismatch between demand and the supply of residences, which translates into a deficit that some voices of the sector They relate precisely with the lack of soil available for construction.

The Association of Real Estate Promoters of Madrid (Asprima) Calculate that every year they are necessary 40,000 New households in the community, well above the production of new construction. According to their estimates, over the last years housing deliveries have remained between 7,200 of 2014 and the “peak” of 23,500 last year. In 2023 and 2024 he estimates that 16,000 and 18,600 began respectively, which gives an idea of the stage for the next few years.

And what does that suppose? “There is much more demand than supply and that translates into a price increase. In addition, there is an embolized demand for more than 175,000 homes,” warned Real Estate Consultores Forum in a 2024 analysis. In its last year’s report, Asprime already remembered that the INE forecasts pass through that in the coming years (between 2022 and 2037) the population of the Community of Madrid grows almost 13% to exceed the 7.8 million inhabitantswhich will fully affect its real estate market, tensioning it even more.

“This growth will cause the community to build housing in the next 14 years for 573,738 new homes, passing the housing park of the 2,636,988 existing in December 2022 until 3,210,726 of December 2037. It means building more than 40,000 homes a year, compared to the 17,000 that are currently built,” collect The promoters report. The collective is part involved, but it is not the only one who has warned of the hole, a problem that extends to other regions of the country and also has pointed out The Bank of Spain.

Does it affect something else? Yes. The mismatch between supply and demand, added to other factors such as The pressure that holiday rentals exercise, it is felt on several fronts. For example, in The speed with which the floors find tenant or buyer or The hard conditions who are forced to assume those interested so as not to be expelled from the market. If there is a clear indicator of the imbalance it is nevertheless the price. Idealista calculates that M2 costs € 5,718 In the capital, 23.7% more than a year ago. In the case of rentals the rise was from 11.3%.

Images | Quique Olivar (UNSPLASH) and Borja Carabante (X)

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