Flat for sale in El Cañaveral, Madrid city, Madrid

Co-operative housing for rent with purchase option «Eon» is a promotion of 371 homes spread across five buildings. The benefits of the model let you enjoy these homes for 15 years by paying limited rent for housing with public protection (VPPL). After those 15 years, the homes become free for rent and sale.

What is the Eon model? Why is it different?
The price shown in this listing corresponds to the estimated cost of the home at the end of construction. For within 15 years, the price (society member’s award value) 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 members who sign up for this promotion is that 100% of the rent paid during the fifteen years is applied to 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, since everything paid is allocated to the final payment.

Other options for the member:
- Designate a family member as the tenant.
- Allow the co-operative to rent out the home for 15 years.
In both cases, in year 16, the member can purchase the home by deducting the rents paid as well.

Construction phases:
Five buildings in stepped 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.
- Energy savings for end users.

Economic conditions
Share capital: 95.000 €, distributed as follows:
- 5.000 € for signing the contract
- 15.000 € for obtaining the building permit
- 35.000 € prior to purchasing the land
- 35.000 € in 20 payments from the start of works
- 5.000 € for signing the lease contract

The 95.000 €:
- Are not an expense. They are a repayable investment after 15 years.
- Are transferable to third parties.
- Are inheritable.

Requirements to access a VPPL:
- Be of legal age or an emancipated minor.
- Have legal residence in Spain.
- Not have a home in ownership.
- Not exceed 7.5 times the IPREM