Support Program for Young Homebuyers
Catalonia continues to implement an initiative aimed at making it easier for citizens under the age of 35 to purchase property. Since the program launched last summer, around three thousand applications have been submitted for financial assistance with down payments on first-time home purchases. Currently, more than two thousand applications are under review and being processed.
Terms and Scope of Assistance
The average amount of support provided is approximately €38,000, allowing buyers to cover up to 20% of the property’s value. The maximum amount a participant can receive is capped at €50,000. According to government data, the average price of a home purchased through this scheme is €200,000. The first deals using these loans have already begun.
Future Plans and Program Expansion
Catalan authorities are considering launching a new phase of the program next year. Additionally, discussions are underway about creating a similar support mechanism that would be available not only to young people but to other segments of the population as well. The program is managed through the website of the Institut Català de Finances (ICF) and is part of a broad housing accessibility plan running through 2030. The overall budget for the initiative is €4.4 billion.
Expansion of the Public Housing Stock
As part of its current policy, the Catalan government has significantly increased the acquisition of apartments to expand the state housing stock. In recent years, the number of properties purchased has risen from 500-560 to over 1,800 per year. Authorities are also encouraging the private sector to play a more active role in developing infrastructure by allocating land for the construction of social housing. New tenders for the provision of such land are expected to be announced soon.
Long-term goals and objectives
By 2030, the region plans to build 50,000 new units of public housing. This will involve both state-owned land reserves and the purchase of already existing apartments. These measures are aimed at improving housing affordability for various segments of the population, with a particular focus on young families and citizens purchasing their first homes.
