The Canary Islands Housing Institute (ICAVI) has launched a new call to help young people from the Canary Islands to buy their first home with a budget of 3 million euros to subsidize up to 11,000 euros per beneficiary.
In order to be eligible for this subsidy, applicants must be under 35 years of age, have an annual income below 23,734 euros and the price of the house they want to buy does not exceed 120,000 euros.
In addition, applicants must have signed a mortgage loan that covers 50% of the acquisition. ICAVI promotes first access to housing, so applicants must not own any housing in Spain and must use the property as their habitual residence for a minimum period of five years.
Interested persons may submit their application electronically, through the website of the Canary Islands Housing Institute or in person at any of the Institute's offices.
During the first three years of the current Legislature, a total of 1,116 young people from the islands have benefited from this specific line of aid, a subsidy that, thanks to the Housing Plan, increased from the 1.2 million endowment it had in 2019, to the 2.9 million that have been allocated since 2020, which has allowed to double the number of beneficiaries in these last two years.
