Thursday. 30.11.2023

The Spanish Minister of Transport, Mobility and Urban Agenda, Raquel Sánchez announced on Monday the creation of insurance for non-payment of rent for young people.

This new state aid would consist of financing a private insurance coverage for a possible non-payment of housing rent for up to one year and whose premium may not exceed 5% of the annual rent, the Government reported in a statement.

The minister made this announcement during her speech at the II Symposium of the Observatory of Mobility and Cities of El Español.

Raquel Sanchez highlighted the Government's drive to guarantee access to housing, especially for young people and low-income families, through the approval of the draft of the Housing Law.

She also mentioned other measures such as the approval of youth aid for emancipation and access to housing. This allowance, of 250 euros per month, is intended for young people between 18 and 35 years old with an annual income of less than 23,725.8 euros.

30,000 homes for young people

As explained by the minister, this benefit will be complemented by the aid established in the State Plan for Access to Housing 2022-2025.

Raquel Sánchez also said that through the Housing Plan for affordable rent it is established that 30% of the homes promoted, that is, about 30,000 homes, are intended for young people between 18 and 35 years old.

Spain promotes youth insurance for non-payment of rent