Entering an apartment is usually an insurmountable obstacle for many Madrid residents, especially young people. The housing price and the requirement to pay 20 and up to 30 percent in advance to be able to apply to the bank for a mortgage license … Thousands of people are outside the market. Given this fact, Community of Madrid In 2022, it launched a program called “My First Home,” so that those under the age of 35 can access public guarantees and thus achieve financing exceeding 80 percent. Since then, the scheme has been expanded and has already benefited more than 5,500 people in the region.
Cumulative data from 2022 to September 30, 2025 indicate: 3,682 mortgages were granted, 3,350 of which were formalized before a notary, with a total of 5,546 beneficiaries, with a percentage granted on the property value ranging between 90 and 97 percent.
Through an order issued in 2022 by the Ministry of Environment, Housing and Agriculture, the “My First Home” program was organized to facilitate access to home ownership, which was initially intended to support those young people under 35 years of age who, being unable to repay their debts, did not have the necessary savings to purchase their first home. The initial goal was to facilitate access to financing of more than 80 percent and up to 95 percent of the property value.
In 2024, another order was issued to make the program more flexible, with requirements more suited to the social and economic realities of the Community of Madrid. For this purpose, the age of applicants has been extended to forty years in the calendar year of application, and this includes large and single-parent families, as well as anyone due to the birth or adoption of a child, in these cases without an age limit. In addition, the financing coverage of the program has been expanded, which may reach 100% of the property value. The maximum house price must be €390,000.
Now, in 2025, with the housing shock plan presented by the president of the community, Isabel Díaz Ayuso, last week, the age limit has been extended to 50 years and new construction is included among the bankable options.
Since 2022, the regional government has invested more than 85 million euros in this programme, in which nine banking entities have participated. The 2022 appeal was given €18 million, in 2023 a further €18 million, in 2024, when the cap was raised to 40 years, €25 million was allocated and in the 2025 appeal the amount of €25 million was repeated.
From the inception of the program in 2022 until its first review, in June 2024, 1,436 mortgages were formalized, benefiting 2,363 young people. From June 2024 to September 2025, 1,914 mortgages were formalized, with 3,169 beneficiaries. As can be seen, since the potential beneficiaries and financing ratio were expanded in 2024, more mortgage loans have been formalized in one year and three months than in the first two years.
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