The Canary Islands Executive has given the green light to the proposal aimed at facilitating housing access for the Archipelago's young population. The Minister of Public Works, Housing, and Mobility, Pablo Rodríguez, announced that the text will now be sent to the Consultative Council for its opinion and will subsequently be definitively approved by the Governing Council. Once approved, agreements will be signed with interested financial institutions.

Financial institutions will directly manage applications and mortgage processing. The initiative will allow individuals aged 18 to 40 to obtain financing of up to 95% of the acquisition value of their first home, exceeding the usual 80%. According to Rodríguez, this removes a major barrier: the savings needed for a down payment.

The program will also benefit large and single-parent families, with no age limit. Requirements include legal and continuous residency in the Canary Islands for the two years prior to application, not owning another property (with exceptions), and dedicating the acquired property as a primary residence for at least two years.

The net worth limit for applicants will be 150,000 euros. Income will not exceed five times the IPREM (Public Indicator of Multiple Effect Income), with increases for dependent children and for single-parent families. Properties must be located in the Canary Islands and have a maximum purchase price of 250,000 euros, including both new and used homes.