Casa 47, the new state-owned housing company that will offer rentals for up to 75 years

BarcelonaThe Spanish government on Thursday presented the state-owned company that will manage the entire public housing system. The new infrastructure, called Casa 47 – a reference to the article of the Constitution that guarantees the right to decent housing – is the culmination of a year-long transformation process. In December 2024, Prime Minister Pedro Sánchez announced the creation of a public housing and land company, a spin-off from Sepes (the Spanish State-owned Land Management Company). Casa 47 will manage the entire public rental housing stock, which "will never again be privatized," and will also play a "fundamental role" in the entire residential cycle: from land acquisition and planning to the final handover of keys. The new company will have a broad portfolio of assets, drawn from its own construction projects and from state-owned housing and land from other ministries, such as Finance, Defense, and the Interior, as well as from the Asset Management Company for Assets Arising from Bank Restructuring (Sareb). Of this latter project, more than 40,000 homes and 2,400 plots of land with capacity for another 55,000 homes have been recovered and will be made available to the public, explained the Minister of Housing and Urban Agenda, Raquel Rodríguez, at a press conference this afternoon. This year, the entity has put out to tender the drafting of projects for more than 1,600 homes throughout Spain and, as announced by the Minister, will soon launch a public purchase offer of 100 million euros to continue increasing the public housing stock. "The investment effort of Casa 47 will contribute to the construction of a new public housing stock that will place us at European standards (8 percent) and will put an end to the recurring nature of housing crises," the ministry explained in a statement.

In this regard, one of the unique aspects of this company is that it will manage rental contracts that can last up to 75 years, with continuous renewals: first for 14 years and then every 7 years, provided that most of the access conditions are maintained. Furthermore, the price will be set according to affordability criteria and will have a cap per autonomous community. "In this way, no rent can exceed 30% of the average rent in the territory," says the ministry.

All of this information will be available through an online portal starting next year, which will include available promotions and the specific requirements for each.