The central government approved last week the young rent voucher. The measure has been announced as an incentive for the emancipation of citizens in an age range between 18 and 35 years and consists of a aid of 250 euros per month. The total cost of the lease cannot exceed 600 euros and the problem is that in a quick glance through real estate portals, only 19.4% of the offer in the province of Las Palmas and 31.7% of that of Santa Cruz of Tenerife –23.9% on average in the Archipelago– is below that value.
Residential rental prices are at a high point on the curve. Pressured four years ago by the flight of assets towards the business of the holiday home, it has never returned to the previous values. Being in the aforementioned age range and earning less than 24,318.84 euros each year are the basic requirements to become an aid applicant, but it is not enough if there is no home to choose from.
The portal idealista.com reveals the existence of 1,786 residential properties in the province of Las Palmas intended for rent, of which only 347 require a monthly payment equal to or less than 600 euros. With fewer stocks –1,049– counts the park intended for rent in Santa Cruz de Tenerife, where only 333 pass the sine qua non price filter. Transferring the numbers to the whole of the Archipelago, the result is an offer made up of 2,835 houses, of which 680 are likely to receive aid.
Only 15.9% of homes for rent in the Canary capitals are rented for a price equal to or less than 600 euros
The royal decree endorsed by the Council of Ministers on January 18 also leaves room for the autonomous communities to take the limit up to 900 euros per month. But not absolutely free. That room for maneuver is limited to areas where prices are especially high due to specific circumstances.
Making an assessment of the autonomous community as a whole does not hide the fact that the problem is much greater when the detail of the analysis descends to the most populated and demanded areas. The clearest example is provided by the two Canarian capitals, in which 84% of the rental offer is above 600 euros,
In Las Palmas de Gran Canaria there are 583 properties for lease (always with a sample generated from idealista.com data) and only 16.4% (96 houses) fall within the basic requirement included in the royal decree. The percentage in Santa Cruz de Tenerife is even lower, 14.6%. for a total of 239 homes looking for a landlord and 35 below the limit price.
The private sector has also warned that the aid will lead to an increase in rental prices. “It will help thousands of young people to access a home,” said the Director of Studies of the real estate portal piso.com, Ferran Font, although it revealed that there is consensus among experts in the sector on the transfer “to income” of the injection of liquidity. “It’s something that has happened before,” he said.
Experts estimate that the initiative will lead to higher rents
The central government has allocated 200 million euros in the General State Budgets of this year to meet the bond payments. From the PP, its spokesperson in Congress, Cuca Gamarra, assured that the Executive of Pedro Sánchez “plays with the illusion of an entire generation” that “is in a situation of extreme social exclusion.” He pointed out that it is “easier for you to win the lottery” than to be able to collect the aid.
For its part, the Minister of Transport, Mobility and Urban Agenda, Raquel Sánchez, He stated that it is “a serious, rigorous measure and is complemented by others.” In addition, he noted that if the autonomous communities raise the ceiling of the eligible rent up to 900 euros in the most expensive areas, the percentages of potential beneficiaries of the bonus will increase.
