Sareb will temporarily transfer 2,000 homes to the Autonomous Communities in order to favour affordable rentals

Sareb has agreed to temporarily provide between 1,500 and 2,000 of the homes in its property portfolio to Autonomous Communities, in order to help provide access to properties with affordable rents and help drive their policies of affordable housing.

This initiative, which will involve signing agreements with the interested Autonomous Communities, is in line with the company’s Corporate Social Responsibility work, and permits it to collaborate with the authorities, without adversely affecting the mandate it has been assigned by law, which is to divest the portfolio of assets received in a timeframe of 15 years.

“This is an initiative which Sareb has been working towards for some time. We wanted to help alleviate the lack of housing, whilst at the same time not excessively distancing ourselves from our mandate”, said Belén Romana, President of Sareb. “Our point of contact should be the autonomous authorities, who are those – along with the town halls – who are charged with improving disadvantaged groups of the population’s access to a decent home”.

In line with the agreement, the regions with the highest number of properties owned by Sareb and where there are the most pressing housing needs will be particularly favoured. The autonomous authority must then return the home vacant once the agreement expires, in order for Sareb to then resume its job of divesting the property. It is expected that Sareb will begin to contact the most interested Autonomous Communities shortly.