Flat for sale in El Cañaveral, Madrid city, Madrid

“Galivivienda Eon” is a development of 371 homes spread across five buildings. For 15 years, you enjoy these homes by paying limited rent for housing with public protection (VPPL). After those 15 years, the homes become market-rent and for-sale.

The price shown in this listing corresponds to the estimated cost of the home at the end of construction. In 15 years’ time, the price (award value to the member) will correspond to the increase in costs attributable to each home, minus 100% of the rents paid during that period.

In the EON buildings, even if you enter as a tenant, you’ll live like a true owner from day one. The advantage for the members of this development is that 100% of the rents paid during the fifteen years is applied toward the payment of the home.

Example: 2-bedroom home, with garage and storage room. Estimated award value at the end of construction: €315,000. Estimated in year 16: €386,549. Rents paid during 15 years: €259,906. Amount to be paid in year 16: €212,737.

During the rental period, the member enjoys the home as if they were the owner, because everything that is paid goes toward the final payment.

Other member options: the member may designate a relative as the tenant, or allow the cooperative to rent out the home for 15 years. In both cases, in year 16, the member may acquire the home by deducting the rents paid as well.

Construction phases: five buildings in staggered development: EON Building I – Plot M7-D – 64 homes. EON Building II – Plot M9-C – 64 homes. EON Building III – Plot M8-C. EON Building IV – Plot M10-C. EON Building V – Plot M3-D – 81 homes.

Industrialized construction: “Ávita System” system. It allows shorter execution timelines, greater control and quality assurance, and energy savings for the end users.

How to become a member: complete the registration application and pay the minimum member amount: €100. After that, you may reserve a home and formalize the contract.

Economic conditions: share capital: €95,000, distributed as follows: €5,000 for contract formalization, €15,000 to obtain the building permit, €35,000 prior to the purchase of the land, €35,000 in 20 payments from the start of construction, and €5,000 for the formalization of the rental contract. The €95,000: is not an expense; it is a repayable investment after 15 years, transferable to third parties, and inheritable.

Requirements to access a VPPL: be of legal age or legally emancipated, have legal residency in Spain, not have a home of your own, and not exceed 7.5 times the IPREM.