For many Madrid residents, especially young people, getting into an apartment is usually an insurmountable obstacle. The price of the house and the need to pay between 20% and up to 30% upfront to apply to the bank for mortgage moratorium. … Thousands of people leave the market. Considering this fact, madrid community In 2022, it launched a program called “My First Home,” which allows people under 35 to receive public guarantees, achieving over 80% financing. Since then, the scheme has expanded and already benefits more than 5,500 people in the region.
Data accumulated from 2022 to September 30, 2025 shows that 3,682 mortgages were granted, of which 3,350 were officially approved before the notary, with a total of 5,546 beneficiaries, and the percentage assigned to the value of real estate is 90-97 percent.
Under a 2022 order from the Department of Environment, Housing and Agriculture, the My First Home program was regulated to facilitate access to homeownership. The original aim was to help young people who were not over 35, had the ability to pay, and did not have the necessary savings to buy their first home. The original aim was to make it easier to obtain financing for more than 80% and up to 95% of the property value.
In 2024, another directive was issued to make the program more flexible, with requirements better adapted to the social and economic realities of the Community of Madrid. For this purpose, the age of applicants was extended to 40 years in the calendar year of application, and also extended to large families, single-parent families, and those who had the birth or adoption of children, in which case there was no age limit. In addition, the program’s loan scope was expanded to potentially reach up to 100 percent of the property value. The maximum price for a house is set at 390,000 euros.
Now, for 2025, the housing shock plan presented last week by community president Isabel Díaz Ayuso extends the age limit to 50 and includes new construction among the financing options.
Since 2022, the local government has invested more than €85 million in the program, with nine banking organizations participating. 18 million euros were allocated for the 2022 recruitment, a further 18 million euros for 2023, 25 million euros for 2024 when the limit was raised to 40 years, and 25 million euros was repeated for the 2025 recruitment.
From the start of the program in 2022 to the first appraisal in June 2024, 1,436 mortgages were formalized and 2,363 young people benefited. From June 2024 to September 2025, 1,914 home loans were officially concluded, with 3,169 beneficiaries. As you can see, since the expansion of potential beneficiaries and loan percentages in 2024, more mortgages have officially closed in 1 year and 3 months than in the first two years.
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