Sostre Cívic, a pioneering housing cooperative in Catalonia, has secured a €31 million loan from the Council of Europe Development Bank, making it the first housing cooperative in Europe to receive such funding.
This investment will enable the construction of over 350 new cooperative housing units, expanding Sostre Cívic’s portfolio to over 550 units within the next two years.
The cooperative’s model, which offers members a permanent right of use at cost price, is set to shape the future of affordable, community-driven housing in Catalonia, with backing from local governments and NextGenerationEU funds. Each community will contribute 8-12% of the project cost as refundable share capital, ensuring permanent access to housing with monthly fees 10-40% below market rates. The cooperative retains ownership of the homes, providing stable, affordable housing for its members.