A new housing support scheme in Catalonia has drawn an overwhelming response, with more than 3,000 young people applying for financial help towards the deposit on a home in just two months.
The Generalitat launched the programme on 30 June, aimed at supporting under-35s trying to buy their first property. Managed by the Catalan Institute of Finance (ICF), the so-called ‘emancipation loans’ cover up to 20 per cent of the property’s value — interest free — and need not be repaid until the mortgage is settled. Of the 3,172 applications received, 452 have already been approved, while others remain under review, were rejected, or withdrawn by applicants.
The government’s housing plan, championed by President Salvador Illa, is designed to expand the public housing stock by 50,000 homes by 2030. The scheme requires that any property purchased with the aid is permanently designated as protected housing, preventing speculative resale.
The financial structure is notable: while the ICF loan can reach up to €50,000, the average request has been closer to €27,300 for homes priced around €200,000. The remaining 80 per cent of the cost is covered by mortgages from participating banks, including CaixaBank, BBVA, Banc Sabadell, Santander and others.
Demographically, the majority of applicants are aged between 30 and 35, with roughly a third between 25 and 29. Fewer than 400 applications came from those aged 18 to 24. Geographically, six in ten requests originated in the province of Barcelona, with the rest spread across Girona, Tarragona, Lleida and beyond.
The Generalitat has pledged €500 million over five years to sustain the scheme. For many young buyers, long locked out of the market by soaring prices and stagnating wages, the programme offers a rare opening — though whether it will be enough to turn the tide of Catalonia’s housing crisis remains to be seen.
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