VPO housing in Spain: requirements, price and limitations

VPO (Vivienda de Protección Oficial, state-subsidised housing) has a regulated price and is for people whose income is below a threshold set by each comunidad autónoma (CCAA, Spain's regions). It works very differently depending on where you are.

Who can apply

General requirements: (1) not owning another property in Spain, (2) income below the threshold set by the CCAA (usually 3-5 times the IPREM, the official income index used for public aid), (3) residence in the CCAA for a minimum period.

The capped price: how much cheaper it is

In the city of Madrid, a VPO can cost 30-50% less than an equivalent open-market home. That's a huge financial advantage for anyone who qualifies.

The limitations

• You can't sell freely during the protection period (10-30 years depending on the type and the CCAA)
• You can't let it without authorisation during the protection period
• It must be your main residence during the protection period

Is it a good investment?

For those who qualify, yes: you're buying an asset below market value. When the period ends, the property can go through descalificación (release from protected status) and be sold on the open market with the capital gain it has built up.

If you don't meet the VPO requirements: RadarPro lets you buy below market value with no restrictions through auctions and bank repossessions.