Spanish government to approve affordable housing plan for young people

The “bono joven de alquiler” of €250 per month, is aimed at those under the age of 35 who earn a salary three times smaller than the Multiplier for the Public Income Index (Iprem in Spanish). [Shutterstock / Adamsov studio]

The government will approve on Tuesday a royal decree that develops a national State Plan for Access to Housing 2022-2025, endowed with €432 million, and a rental aid voucher for young people, with a budget of €200 million, EURACTIV’s partner EFE reported.

The housing plan foresees a new aid package targeting the most vulnerable and financial incentives for promoters of affordable rental housing for young people.

The “bono joven de alquiler” of €250 per month is aimed at those under the age of 35 who earn a salary three times smaller than the Multiplier for the Public Income Index (Iprem) of €24,318 – which is used as a reference for granting economic aids, allowances or unemployment benefit.

To facilitate the implementation of the housing plan, Spain’s transport ministry will sign collaboration agreements with the 17 regions and make state funding conditional on the latter co-financing the measures in specific percentages.

With subsidies of up to 100% of the rent in cases of “extreme vulnerability” and the most vulnerable groups, the new housing plan is aligned with the previous one, initiated by the 2013-2016 state plan, and also puts the promotion of affordable renting prices at the centre of the strategy.

Although the new plan keeps the maximum monthly rent ceiling at €600 (and up to €900), it raises the subsidies from 40% to 50% of the rent for families earning three times less than the Iprem, EFE reported.

It also provides aid for young people under 35 with incomes three, four or five times below the Iprem to rent or buy homes in towns of less than 10,000 inhabitants, and specific measures to increase the public rental stock with housing provided by public entities, private companies and individuals.

It also establishes subsidies for owners who promote temporary housing, cohousing models, intergenerational housing and similar models. (Fernando Heller | EuroEFE.EURACTIV.es)

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