Madrid Expands ‘My First Home’ Program, Increases Subsidies and Eligibility
Madrid, April 20 – The Community of Madrid has announced a significant reinforcement of its ‘My First Home’ program, a move designed to assist more Madrilenian families in acquiring their first home. This comes as a direct response to the escalating cost of living in the region. The regional government has raised the maximum price of eligible properties from 390,000 to 425,000 euros, adapting the scheme to current market realities and aiming to broaden the housing options available to beneficiaries.
The regional government emphasizes that access to housing is a critical factor for youth emancipation and the formation of new families. Therefore, removing financial barriers in the current economic climate is a top priority.
Program Mechanics and Financial Commitment
The ‘My First Home’ program operates through agreements with nine financial institutions, enabling mortgage financing of up to 100%. For 2026, the anticipated investment stands at 25 million euros. The total investment since the program’s inception has now reached 111 million euros, with 18 million allocated between 2022 and 2023, and an annual commitment of 25 million euros for 2024, 2025, and 2026.
The initiative has already yielded substantial results. As of February 28, 2025, 4,601 mortgages have been granted, with 4,181 already formalized, benefiting a total of 6,974 individuals. In these transactions, the Community of Madrid has acted as a guarantor, making it easier for young people with repayment capacity but insufficient savings for an initial down payment to access financing.
Expanded Eligibility and Housing Requirements
Homes acquired under the program must serve as the habitual residence for at least five years. Furthermore, the new regulations expand the beneficiary profile to include families with minor children, without an age limit for the parents. This new group joins existing categories such as large families, single-parent families, or those who have recently had or adopted a child.
With these enhancements, the Community of Madrid reaffirms its commitment to policies aimed at facilitating access to housing and increasing the available supply, particularly in a context of rising prices that demands effective solutions.
Public Housing Development in Guadarrama
In a separate but related development, the Community of Madrid will construct 58 public housing units in Guadarrama. This project aims to provide homes for vulnerable families and bolster the resources of the Social Housing Agency (AVS).
The Governing Council recently authorized the tendering process for this project, which involves an investment of 14.2 million euros and an execution period of 24 months. This initiative aligns with the regional executive’s goal of increasing the AVS’s managed housing stock by 2,100 units. The new AVS development in Guadarrama, located on Vereda del Colmenar street, will feature 58 homes, comprising 34 three-bedroom units and 24 two-bedroom units. Once the adjudication is resolved and construction begins, Guadarrama will join Majadahonda, Móstoles, Rivas-Vaciamadrid, Valdemoro, Villa del Prado, and the capital as one of the six municipalities where nearly 1,200 properties are currently under construction.
Source: https://www.elmundo.es/madrid/2026/04/20/69e545a5e9cf4a157e8b4592.html
