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Spanish Government Announces New Housing Plan and Credits for Home Purchase Promotion

The Minister for Transport, Mobility and the Urban Agenda, Raquel Sánchez, announced on Tuesday, after the Council of Ministers, the details of the Government’s new housing plan. Among the investments that she has advanced, a line of ICO credits of 4,000 million for home purchase promotion stands out, which will cover 20% of the credit for people under 35 years of age and vulnerable families with incomes of less than 37,800 euros per year.

On the other hand, to encourage the rehabilitation of the building stock, the ministry will allocate another 4,000 million euros, from the Recovery, Transformation and Resilience Plan, which will allow, according to government calculations, more than half a million interventions.

Regarding the purchase of Defense land for the construction of public housing, the Government estimates the operation at 620 million. The agreement has been ratified between the Ministry of Transport, Finance and Defense for the latter to transfer land owned by it to the public land entity Sepes to promote 20,000 homes. As a result, Sánchez has announced that 50 actions will be carried out in 14 autonomous communities on more than eight million square meters, reaching a total of 20,000 new homes that will be used for social or affordable rental. “We started with a goal of 20,000, now the idea is to reach 184,000 social homes, he pointed out. In turn, he has stressed that the Executive will treat access to housing as “a national cause.”

Regarding public guarantees for the purchase of housing, the minister has pointed out that it is a complementary measure to the law. “We do not have to demonize the sale of homes by those people who can access it”, stated Sánchez at the press conference after the Council of Ministers. She did so in reference to the opposition that this point has aroused in her government partners. Unidas Podemos has criticized that this measure could lead to a bubble in prices. Despite this, this measure will not be voted on in Congress, according to the person in charge of housing.

The lines of guarantees will cover up to 20% of the purchase of a first home for people up to 35 years of age with an income of less than 37,800 euros per year, a limit that is increased by 70% for single-parent families, up to 64,000 euros. and double, up to 75,600 euros, if the mortgage is signed by two people. The purchase of a home that has a sustainable energy rating will also be discounted. Some 50,000 people who have economic solvency but do not have the savings to pay the down payment on a mortgage could benefit from this package of measures, according to what the Prime Minister, Pedro Sánchez pointed out on Monday.

In addition to this measure, a 50% discount on Interrail tickets for young people between 18 and 30 years old and a series of additional discounts for those who want to move around Spanish territory have also been processed this Tuesday. This includes discounts of up to half the ticket on buses and trains and a discount of up to 30 euros on high-speed travel.

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2023-05-09 13:17:20
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