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Sareb assigns 15 homes to the Seville City Council for families at risk of social exclusion
20/12/2016

​This is the fifth agreement that the company has signed with a city council, following those agreed with Madrid, Barcelona, San Sebastián de los Reyes (Madrid) and Malaga

To date, approximately 8,000 people have benefitted from the 2,300 homes that Sareb has assigned via agreements with local authorities


The Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb) has reached an agreement with the Seville City Council to temporarily assign 15 homes, which will be used for social needs. The agreement was signed today by Felipe Castro Bermúdez-Coronel, Managing Director of the Seville Municipal Company for Housing, Land and Facilities (Empresa Municipal de Vivienda, Suelo y Equipamiento de Sevilla - EMVISESA), and by Gaspar González-Palenzuela, Sareb's Director of Corporate Social Responsibility.

The terms of the agreement, which will be valid for four years, assume that Seville City Council will manage the assigned properties and will select the tenants for the homes as part of its social benefits programme framework. Up to 50% of these assigned homes can be occupied by families without a rented or purchased property, in which case the council will help to rectify these situations.

In exchange for assigning these properties, Sareb will receive a fixed monthly compensation of 75 euros for the occupied homes and 125 euros for vacant homes, which will be used by Sareb to pay the insurance, service charges and extraordinary repair costs. The Seville City Council will pay for all of the corresponding charges related to the management of the homes, as well as their day-to-day management and Property Tax (IBI).

Sareb has offered a total of 4,000 homes to autonomous regions and large city councils, so that they can be used as part of their social welfare programmes. This is the fifth agreement that the company has signed with a city council, following those agreed with Madrid, Barcelona, San Sebastián de los Reyes and Malaga. To date, the company has assigned over 2,300 homes, meaning that more than 8,000 people benefit from Sareb's affordable housing to let assignment plans which it has entered into with City Councils and Autonomous Regions.

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