Spain • • • 🌿 Progressive

Edificio residencial clásico de fachada de piedra y balcones de hierro en Madrid, a la luz de la tarde
Edificio residencial de fachada clásica en Madrid, imagen alusiva a la vivienda de Diego de León. · Imagen generada para EPM

A Public Flat on Diego de León and the Shadow of Privilege

Social Security sold Iván Redondo a flat on Diego de León without auction for 1.12 million, well below its estimated value, in a presumably legal deal that…

--- The context --- A public flat on Diego de León street, in Madrid, awarded without auction and below market value to Pedro Sánchez's former chief of staff feeds the suspicion of privilege. --- The facts --- Social Security awarded Iván Redondo a flat without auction for about 1.12 million euros, closed on September 16, 2025. With his wife Sandra Rudy, he acquired 50% of the property, with 128.48 useful square metres, with a mortgage of 769,000 euros over 30 years, until September 30, 2055. --- The positions --- Critics stress the discount of nearly half a million against a value around 1.5 million. Redondo directed the Cabinet between June 11, 2018 and July 14, 2021, and that closeness to power turns a presumably legal deal into a problem of privilege. --- What remains unknown --- An internal report says 38 properties were sold by direct award, most to tenants with a preferential right, in a single procedure in 2005 and that there was no other until 2025. --- Unanswered questions --- Why was no open auction called to maximise the public return? What criteria justified a direct award? Was there an independent and updated valuation before the price was set? --- EPM analysis --- The building passed to Social Security in 1997 and today it keeps five flats and four storage rooms. With so little public stock, each cheap sale demands full explanation. 📌 EPM Take: In EPM's view, the problem is not only the price, it is the message sent: a public flat is sold without auction and below market value to the man who ran the prime minister's Cabinet, when auctions at market price have been the usual route in these years. Even if the deal was presumably legal, unequal access is laid bare and demands full transparency, a public valuation and immediate accountability.
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