The owners have signed an eight-year social lease and handed the keys to EMVS Madrid. Maricarmen can return after leaving hospital, while Urbagestión will receive less than €200 a month after costs.
On 28 September, Urbagestión and Maricarmen Abascal's representatives reached an agreement at the EMVS Madrid offices. The final step is now hers. Maricarmen must sign the lease before she can return to the flat in Madrid's Retiro district.
The owners have signed the social rental agreement and handed the keys to the Empresa Municipal de Vivienda y Suelo. The lease sets the rent at €500 a month for eight years. Maricarmen remains in hospital.
Her signature is still needed. Once she signs, she can return whenever she considers appropriate. The owners delivered the document in person to the EMVS representation and transferred control of the keys to the municipal housing body.
Maricarmen was evicted on 23 September and was subsequently admitted to hospital. Reports also say that she had lived in the flat for around 70 years.
The deal is concrete but far from profitable for the company.
€500 is close to what Maricarmen paid before the eviction. Urbagestión will receive much less than that figure. The property owners must cover the building community fees and the Impuesto de Bienes Inmuebles, or IBI.
Ricardo Alonso told OKDIARIO that the net income could fall below €200 a month. After those charges, it could stay around €180.
That income faces a mortgage of more than €500 a month. The numbers are clear.
Fernando Alonso and Ricardo Alonso acknowledge that the arrangement can be seen as economically disadvantageous. They say it was that way from the outset. They do not describe it as a deal that became unviable after a later change.
According to El País, the agreement was reached on 28 September at the EMVS Madrid offices through the municipal Rental Mediation Service. The arrangement is described as an eight-year lease costing about €500 a month, or roughly 30% of Maricarmen’s pension, with the service providing guarantees to the owners and limiting the tenant’s payment.
The dispute had already moved beyond the flat. Public attention grew after Maricarmen's eviction, and the agreement followed a meeting at EMVS last Monday.
An earlier report covered the government's promised emergency housing decree and the protest in Madrid's Puerta del Sol. ARA reported that the case prompted mobilisations across Spain. It also became part of the wider debate over housing policy.
For Maricarmen, the immediate issue is simple. She needs access to a home she can recover under a defined lease.
For Urbagestión, the figures tell another story. A gross rent of €500 does not become €500 in revenue when the company still pays the ownership costs.
The owners also reject the idea that they are professional property investors. They say the company owns only two physical assets: the Retiro flat and a low-value unfinished commercial premises.
The company's main business is service provision. Fernando Alonso and Ricardo Alonso say their livelihood rests on the company's reputation, not on real estate investment.
That distinction matters here. This is not presented as a normal market transaction.
The agreement fixes a social rent at €500 a month. Urbagestión must still pay the building costs and a mortgage that exceeds the gross payment. Maricarmen gets a route back home. The company accepts a loss.
Urbagestión has acknowledged EMVS Madrid's role as mediator and expressed regret over what happened. The company also thanked Mayor José Luis Martínez-Almeida and his team for their intervention.
Menorca reported that the company's statement praised the professionalism of the municipal service.
The flat is ready. The keys are with EMVS Madrid.
Only Maricarmen's signature remains. Her return is expected after she leaves hospital.
The agreement offers a practical answer to the housing dispute. It also shows who will pay for it. Based on the information available, the owners accepted that cost to restore the tenancy instead of pursuing the more profitable option.
