The Board of Directors of the Empresa Municipal de la Vivienda y Suelo (EMVS), the municipal housing company of Madrid, is due to approve the 2027 budget proposal on Wednesday, 28 October 2026. It provides for €199.6 million, an increase of 14.4 per cent on 2026. The city’s direct grant to the EMVS is budgeted at €153.24 million. The city council announced this ahead of the meeting.
Madrid intends to use the additional funds to accelerate support for and construction of new homes. According to the city, the EMVS expects to have around 9,000 homes in construction or tendering phases in 2027. These include 3,900 units from Plan Suma. The council stresses that these are pipeline targets, not the number of completed homes handed over in 2027.
The proposal builds on several development areas in the south-east of the city. Those singled out in particular are Los Ahijones and Los Berrocales, which are considered key locations for subsidised housing. Land provision, infrastructure works and tenders are to be prioritised there. The city council was cautious about the precise project schedules; experience suggests delays can be expected between planning, the start of construction and completion.
The EMVS also points to its expanded stock of affordable rental homes. The municipal housing stock now stands at around 10,000 units. The city sees the budget increase as the right tool both to expand the stock further and to bring unused or vacant homes back into use gradually.
The 2027 proposal is the final budget proposal of the current term of office. The EMVS’s final figures and decisions will depend on the board’s vote. Details may change before formal approval. In any case, funding in the coming months remains contingent on the publication of formal documents, which the city council intends to present after the meeting.
Opposition groups and interest associations have repeatedly pointed in the past to the gap between announcements and actual completion. The city government counters that the pipeline has grown considerably and that the 2027 budget allocation will create the conditions to expand public housing steadily.
Editor: Mira Cadena (Article created with AI assistance).