This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at El presidente del Gobierno y la ministra de Vivienda anuncian un plan de apoyo a la emancipación e impulso al alquiler

The President of the Government and the Housing Minister announced a plan of support for the emancipation and momentum to the rental

24/09/2007

September 24, 2007

The President of the Government, José Luis Rodríguez Zapatero, and the Minister of housing, Carme Chacón, presented on 18 September in the Palacio de la Moncloa plan drawn up jointly by the Ministry of housing and the Ministry of economy and finance to support the empowerment of young people and encourage the rental market.

In his appearance before the media, the Housing Minister announced that young people occupied between 22 and 30 years, whose annual gross income does not exceed the 22,000 euros, who want to access to housing for rent will receive direct assistance from 210 euros per month for four years. In addition, the Government offered a guarantee of six months and a loan of 600 euros for the payment of bail. According to the Minister, the measure "is access to a first housing to young people who are those who take more emancipated from the European Union". In this line, Chacon insisted that "it's a generation of young people who have trained as any another generation of young Spaniards, who already have jobs, but who have no access to housing because the price is too high".

Chacón also reported that the Plan to provide support to people living in rent of any age, whose annual income does not exceed the 24,000 euros NET. Thus, provides a deduction tax from 10.05 per cent for the amounts intended for the payment of the rent (up to a maximum of 9.015 euros), equivalent to the one for the purchase of housing. The holder of housing pointed out that Spain is among the countries with lower percentage of housing for rent and that "it is good that, in addition to a comprehensive housing in property sector, there is a broad rental market". Chacón clarified that for young rental income is compatible with the deduction, and that the Government intends to all these measures to be dealt with as a Bill and can enter into force as of January 1, 2008.

The Minister stressed that these first two steps will come accompanied by others, developed jointly with the Ministry of economy and finance and other departments, which aim to increase security and guarantees for lessors, promote the placing on the market of the empty houses for rent, and promote the construction of private housing for rent and also publishes, by the administrations. Also, Chacón was emphasized the intense work that his Department has been carried out in the past two months, in which "we have heard and discussed extensively with the sector" for "the best solutions with young people," with employers", with trade unions, municipalities, autonomous communities, developers and consumers", said the Minister.