Spain Unveils Housing Guarantee To Address Housing Affordability
The Spanish government announced a €2.5 billion housing guarantee program, aiming to address housing affordability for young people. The €2.5 billion housing initiative targets 50,000 young people and families with dependent minors seeking to purchase their first homes. The program offers state guarantees covering up to 20% of the mortgage value, easing access to financing for those facing challenges due to market conditions or limited savings. “This initiative aligns with the President’s agenda and the coalition agreement’s objectives,” said Minister for Housing and Urban Agenda, Isabel Rodríguez. “It will help young people and families achieve their dream of homeownership and rebalance the rental market, particularly in areas where rents exceed mortgage payments.” Applicants must be under 35 years old or families with dependent minors, residing in Spain with a stable income capped at €37,800 annually. The guarantee period lasts a maximum of 10 years, and beneficiaries must commit to making the purchased property their primary residence for at least a decade. The housing program’s impact on overall affordability and its financial sustainability require monitoring. announce further details on the housing program, including loan eligibility criteria, in the coming days.
Tags : Spanish government housing affordability rental market agenda coalition agreement