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Valencia Region to Build 685 Affordable Rental Homes with €29 Million EU Funds

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In a significant development aimed at boosting affordable housing in the Valencia region, Secretary for Housing, Sebastián Fernández, has signed an agreement with the Ministry of Housing and Urban Agenda, securing €29 million from the NextGenerationEU funds under the Program 6 of the Recovery, Transformation and Resilience Plan (PRTR). This funding will be dedicated to the construction of 685 homes for affordable rental in eight municipalities: Castelló de la Plana, Valencia, Benifaió, El Puig de Santa María, Sagunt, Benidorm, Xàbia, and La Vila Joiosa. Highlighting the quick mobilization of these European Funds, Fernández emphasized that within just eight months, nearly €30 million were unlocked, allowing for the expansion of nearly 700 affordable rental housing units in the community. The Generalitat plans to tender, through a competitive bidding process, the concession of public land rights for the promotion and construction of these 685 protected homes, which will be managed under affordable rent conditions for a minimum of 50 years and a maximum of 75 years. Following demand studies and technical-economic feasibility analysis, actions will focus on 13 plots in the mentioned municipalities, deemed optimal for public-private collaboration. The total estimated investment for the promotions amounts to €97 million, with the largest number of homes to be built in Sagunt (200 units) and Castelló de la Plana (121 units).

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