The regulation, promoted by the Department of Public Works, Housing and Mobility, allows beneficiaries to obtain up to 95% of the purchase value for properties priced at no more than 250,000 euros. This measure is aimed at young people aged 18 to 40, as well as large and single-parent families.
To access this program, applicants must prove legal and continuous residence in the archipelago for the two years prior to the request. Furthermore, the acquired property must be used as a primary and permanent residence for a minimum period of two years, and the net assets of the buyers cannot exceed 150,000 euros.
The income limit for applicants is set at five times the IPREM, with specific increases for single-parent families or for each dependent minor. The program covers both new and used homes, whether free-market or private-promotion protected housing.
Following the final approval, the Department will proceed to sign a framework agreement with interested financial institutions. This administrative step will allow banks to formally join the program, thereby facilitating the process for citizens interested in this support line.
