Wednesday. 07.12.2022
HOUSING

Spanish youth rental subsidy will benefit tenants of rooms up to €300

The subsidy, in general, will be granted to people up to 35 years of age whose annual income does not exceed 24,318.84 euros.

Balcony facade by Pixabay.
Photo: Pixabay.

The Spanish Council of Ministers approved on Tuesday the real decree that regulates the new youth rental bonus, which will enter into force retroactively on January 1.

Among the unknowns that the approval of this new subsidy clears up is that those who rent a single room in an apartment will be able to benefit, provided that its cost does not exceed 300 euros per month.

However, the regulation contemplates some exceptions to this limit, which may rise up to 450 euros in the territories considered 'stressed', that is, where the rental market is more expensive, provided that there is an agreement between the central government and the authorities of the regional government.

The subsidy, in general, will be granted to people up to 35 years of age whose annual income does not exceed three times the IPREM, an indicator which the state uses as a reference to calculate subsidies and which (multiplied by three) is equivalent to 24,318.84 euros.

As a novelty, and in order not to harm labor mobility, it will be allowed to continue charging it in cases of transfer to other autonomous regions, with income in some cases reaching four times the IPREM (32,425.12 euros per year).

The new regulation also includes the possibility of making the youth rental bonus compatible with other subsidies such as the minimum insertion income, non-contributory social security pensions and other aid from the state housing plan.

Spanish youth rental subsidy will benefit tenants of rooms up to €300
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