Last Monday, the Canary Islands Housing Institute (ICAVI) published in the Official Gazette of the Canary Islands (BOC)the requirements referring to the new call for aid for the acquisition of the first home. In principle, it is oriented to young canaries under 35 yearss, who would receive a bonus up to 20% of the value of the property acquiredas long as cannot exceed 120,000 euros.
In this way, young people who apply for this subsidy, may choose up to a limit of 11,000 euros -limited to 20% of the purchase price-without inherent expenses and taxes, as reported by the Ministry of Public Works, Transport and Housing, convener of the aid.
In principle, the budget for this aid -included within the Canary Islands Housing Plan 2020-2025– It is three million euros and its main objective is to end the housing emergency and promote access to housing for the youngest.
Application Requirements
The requirements for applicants are:
– have some annual income less than 23,734 euros.
– The price of housing cannot exceed 120,000 euros.
– The purchase must have been made within the period from September 2020 to the last valid day to apply for the grant.
– Have signed a mortgage that covers 50% of the price of the house purchased.
– The appliers should not be owners of no housing in Spain
– They will have to use the property as a habitual residence -for at least five years-
The request for the first home can be made electronically, through the website of the Canary Islands Housing Institute, or in person from this Tuesday.
