The President Isabel Díaz Ayuso has communicated during the debate of the State of the Region a new program of aid for access to housing owned by solvent young people under 35 years, but without sufficient savings to access the necessary credit. Will destine 12 millions of euros for endorse some 5.000 mortgages for floors up to 400.000 euros. Also, announces the construction of the first 9.000 homes to dedicate to affordable and social rental for years to come.

The Madrid's community offers new programs to encourage access to housing for young people, both for the sale and for the rental. On the one hand, is going to launch the First Home program, which consists of the capacity of the Government of the Region to endorse young people up to 35 years buying a house, but that have the requirement to present economic solvency. What the regional government does is offer help to those who lack sufficient prior savings to access a mortgage loan.

For it, President Isabel Díaz Ayuso has committed to be assigned 12 million euros to guarantee at least 5.000 mortgages. As clarified by the regional Executive, "They will be grants for flats with two or three rooms in the peripheral metropolitan areas, with surfaces between 80 and 90 m2 and a value of the property - newly built or second hand- in the market of between 150.000 and 400.000 euros.

Plan Vive to expand the regional park of rental housing

The biggest bet of this legislature in the matter of housing is raised with the Live Madrid Plan, that it intends to add to the rental market in the region until 15.000 new homes at affordable rental prices, that is, lower than the market.

As the president advanced, “Throughout next fall, the bidding procedures for the first 72 plots, spread over 27 municipalities of the region, that will allow the construction of the first 9.000 plan homes”.

Goal of achieving 50% of aid for young people within the Rent Plan

Another of the programs related to housing is the Rent Plan, that each legislature continues to be renewed since 2008. In these 12 years, has covered about 100.000 lease agreements, of which a 42% have been formalized by tenants under 35 years.

To achieve that goal of overcoming the barrier of 50% of young people assigned to the Young Rent Plan, will reinforce the guarantee guaranteed by the Community of Madrid to the owners who rent their houses to these young people from Madrid.

According to the data of the Rent Plan, the average price of the rented house is 781 euros in the municipalities of the Community of Madrid and 871 euros in the city of Madrid. The average area of ​​rented housing in the region is 74 m2 of up to three bedrooms, in front of 60 m2 and 2 bedrooms in the capital.

[Source: Idealista]