Avalanche of 12,000 applicants for just 123 flats in new social housing development in Malaga
The draw for the subsidised properties, with prices starting at 175,000 euros, will take place in the coming weeks
The 'hunger' for subsidised housing in Malaga city is evident. Coanfi - the company behind the future Residencial Zoë social housing project in the Distrito Zeta area - has received a total of 11,862 applications for the complex of 123 flats for sale. The deadline for applications was Tuesday, 30 September.
The avalanche of requests for this latest offer of subsidised housing, left in the hands of private developers, is a symptom of the ever-increasing price of housing in the Costa del Sol capital.
Residencial Zoë offers two-bedroom flats for 175,890 euros (159,900 euros plus IVA sales tax in Spain, including parking space and storage, and three-bedroom flats from 210,870 euros. In total, the project includes 94 three-bedroom flats, 24 two-bedroom flats, three adapted two-bedroom flats for people with reduced mobility and two adapted three-bedroom flats.
The draw for the flats will take place in the coming weeks. Those who have sent an application can check Coanfi's website to see if they are properly registered for the draw by 9 October. If they do not appear on the list, they must send an email, again before the 9th.
A computer program will randomly choose the 123 winners, along with 246 alternates, divided into four categories according to the type of housing. Those chosen will first have to pay a 3,000-euro deposit, which will be returned if they do not continue with the allocation process.
Once the project has a building permit and work has started, the purchase contracts will be signed and the successful bidders will have to pay 10% of the price of the flat plus IVA (the 3,000 euros already paid will be deducted from this amount). A further 10% of the price of the flat, plus IVA, will then be paid in 18 monthly installments, and the remaining 80%, plus IVA, will be paid when the keys are handed over.
Urban development work in Distrito Zeta is in its final stretch to make way for a new neighbourhood of more than 3,400 homes, of which more than a thousand will be social housing. Work has already begun on a project for 111 subsidised housing units, also for sale, promoted by Vimpyca, which received 4,553 applications. The draw for these flats has already taken place.
