The current Government’s election promises to tackle the housing crisis will begin to be implemented this month.
Main measures for young people up to 35
Some of the main measures aimed at young people up to the age of 35 include:
- State guarantee for bank financing: creation of a public guarantee that will make it easier for young people to obtain full bank financing.
- IMT and Stamp Duty exemption: young people will not pay IMT or Stamp Duty on the purchase of properties with values up to the fourth IMT bracket, currently up to €316,772.00.
- Emergency programme for student accommodation: launch of the National Higher Education Accommodation Plan, aimed at solving the student housing crisis.
Recognising that “young people are the demographic group most affected by the housing affordability crisis, with negative consequences for the country’s demographics and contributing to the emigration of the most qualified”, the new Government admits that one of the “greatest difficulties” young people face today is buying a home. This difficulty is made worse by factors such as low wages, precarious jobs, high house prices and the lack of mortgages covering 100% of the value.
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