Government turns Casa 47 into a fund: expects to bring in €210 million in two years with rents up to €1,000

The Government has transformed its public Housing company, **Casa 47**, into a fund with the objective of bringing in more than **€210 million** between **2026 and 2028** through rents.

## The new business of public housing

The government's housing policy has taken an unexpected turn. What was once presented as an initiative to help those most in need now appears to have become an investment fund with clear revenue objectives. **Casa 47**, the public Housing company, plans to generate over **€210 million** in rental income between **2026 and 2028**. It seems the idea is to achieve an economic return from public housing, an approach that moves away from pure social aid.

## Prices that don't match 'affordable'

One of the most striking aspects of this operation is the rental prices. They are advertised as "affordable," but the data suggests a different reality. In towns with only **8,000** or even **150 inhabitants**, Casa 47 rents exceed **€1,000 per month**. This raises doubts about who these housing units are truly aimed at. If we add up the projected revenue, around **€6.9 million** is expected by the end of **2026**, trinc by **€86.8 million** in **2027**, and **€116.4 million** in **2028**.

## Requirements that exclude the vulnerable

The Casa 47 strategy seems to exclude those who might need it most. To access these homes, the main requirement is that the minimum income of the household exceeds **€42,000 per year**. This means that individuals receiving the Ingreso Mínimo Vital (IMV) [Minimum Vital Income] or those with lower incomes are left out. Curiously, the housing offer is concentrated in a few Autonomous Communities: **Comunidad Valenciana** (**62.2%**), **Galicia** (**15.3%**), **Catalonia** (**14.4%**), **Navarra** (**5.3%**) and **Asturias** (**2.8%**). Provinces like **Castellón** (**157 houses**) or **Alicante** (**153 houses**) lead the offer, while in places like **Barcelona**, there are only **25 units** available.

## A scarce and expensive offer

The official figures speak of **800 houses** published, but the reality on Casa 47's website shows only **645**. This represents a minimal percentage, **0.09%**, of the **750,000** housing deficit needed in Spain. Most surprisingly, in some cases, the prices of these public rentals exceed those of the free market. In **Carlet**, near **Valencia**, a 97m² apartment is offered for **€640** (**€6.59/m²**), while larger apartments in the same area are found on real estate portals for **€850** (**€6.16/m²**). The initiative, therefore, seems to offer a limited solution, in areas with low demand, for middle-to-high income families at prices that are not always competitive.