Catalunya has already processed 2,100 loans aimed at helping young people pay deposits on their first homes. Government spokesperson and housing minister Sílvia Paneque announced that they’ve received up to 3,000 applications for this aid scheme managed by the Catalan Finance Institute (ICF).
The measure will allocate 500 million euros over the next five years in interest-free loans so under-35s can buy their first flat. According to Paneque, the average property price is 200,000 euros and the average aid amount, which covers up to 20% of the property value with a cap of 50,000 euros, is 38,000 euros.
Based on these figures, she’s defended a second call for next year and explained they’re studying whether to create a similar programme that’s not focused solely on young people. The government launched this scheme as part of measures announced by president Salvador Illa to invest 4.4 billion euros by 2030 to facilitate housing access for the population.
These actions also include building 50,000 public flats or expanding affordable housing purchases through pre-emption and redemption rights. On this last point, Paneque detailed that the government has tripled the acquisition of flats in this legislature. Catalunya has gone from buying 500-560 flats this way per year to more than 1,800.
She indicated that the lack of housing supply has particularly affected middle and working classes, noting that whilst in the 80s and 90s you could afford a flat deposit with three years of savings, right now you need 14 years of working life.
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