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Sareb assigns 45 homes to the Extremadura Regional Government to be let as affordable housing
10/10/2016

​To date, the company has assigned more than 2,300 apartments for social welfare use, thanks to agreements signed with regional governments and city halls.

The Ministry of Health and Social Services will manage the properties and will select the tenants at risk of exclusion.


The Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb) will temporarily assign 45 homes to the Extremadura Regional Government (Junta de Extremadura) to be let as affordable housing. As established in the agreement signed today by Guillermo Fernández Vara, the President of the Extremadura Regional Government and Jaime Echegoyen, Executive Chairman of Sareb.

The terms of the agreement, which shall be valid for four years, assume that the Extremadura Regional Government will manage the assigned properties and will select the tenants for the homes as part of its social benefits programme framework.

In exchange for assigning these properties, Sareb will receive 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, community and extraordinary repair costs. The Extremadura Regional Government will be responsible for obtaining the energy efficiency certificates, if the properties do not already have one, the standard maintenance and repair costs of the homes and technical assistance to the tenant, among others. 

Up to 50% of the homes assigned can be occupied by families in arrears or without a rented or purchased property, in which case the Extremadura Regional Government will help to rectify these situations.

Sareb has offered a total of 4,000 homes to regional governments and large city halls, so that they can be used as part of their social welfare programmes. The company has currently made more than 2,300 homes available via the agreements signed with eight autonomous communities (Catalonia, Aragón, Galicia, Balearic Islands, Castilla y León, Canary Islands, Cantabria, Andalusia and Extremadura) and the city halls of Madrid, Barcelona, San Sebastián de los Reyes and Malaga. 

On signing this agreement today, more than 8,000 people now benefit from Sareb's affordable housing to let assignment plans.

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