Assistance with buying property in Spain in 2023 | Rastreator

The state housing construction plan for 2022-2025 provides assistance of up to 10,800 euros for individuals under 35 who are purchasing their first home in a town with a population of up to 10,000 people. Some autonomous regions have support measures for access to housing, as well as tax benefits for certain groups purchasing real estate. Buying a home is a dream for many people, but not everyone can achieve it. Taking the first step towards buying an apartment can seem like a real challenge. However, if you are considering becoming a homeowner, knowing what subsidies and support measures for housing acquisition are offered by various authorities—both national and regional—can help you take that step.

Subsidies for Housing Acquisition at the National Level To simplify access to housing for young people, the Spanish government has launched a State Housing Plan, which covers both purchase and rental, and will be in effect until the end of 2025. Specifically, this plan establishes a number of direct subsidies for young people under 35 who buy a home in a town with a population of less than 10,000. The aim of these subsidies is to ease the financing of home ownership. The amount of this assistance can reach up to 10,800 euros as a non-repayable grant, but in any case, it cannot exceed 20% of the purchase price of the housing.

To access these subsidies, the following requirements must be met:

• Be under 35 years old at the time of application.
• The purchased property must become a permanent and stable place of residence for a minimum period of five years from the date of occupancy.
• The purchase price should be below 120,000 euros.
• The family's income should not exceed three times the indicator of the overall minimum living standard.

Although this is a national plan, the administrative procedures for subsidies are transferred to the autonomous regions. Therefore, you will need to keep an eye on the announcements they publish and submit an application for assistance. However, it is worth noting that in some areas, subsidies are provided exclusively for reconstruction and rental, rather than for purchasing housing.

The government also provides subsidies for families with multiple children who decide to purchase housing. In this case, finding suitable housing for their needs becomes a more challenging task. Specifically, they receive discounts on the payment of the Transfer Tax (ITP). This tax usually amounts to 6%, but most autonomous regions apply increases that reach 10% or 11% (in the latter case for high-value housing). Families with multiple children are entitled to pay only 4%, which they must indicate through model 601 submitted to the Tax Authority.

Subsidies for autonomous regions. In addition to these government measures, some autonomous regions have their own plans to assist in this important investment, as well as tax benefits with discounts on the Property Transfer Tax (the tax paid when buying a home from one owner to another).

• Help to buy a house in 2023- Andalucía - Reduced type 3.5% in the Transfer Law Tax- Aragon - Bonus of 12.5% in the Transfer Law Tax- Asturias - Tax incentives for the purchase of a home under the Housing Protection Program- Balearic Islands - Aval up to 20% on mortgages- Canary Islands - Assistance of 20% of the value of the home, with a maximum of 11,000 euros- Cantabria - Assistance of 20% of the value of the home, up to a maximum of €10,800- Castile and Leon - Tax advantages for those under 36 years of age- Castile-La Mancha - Deduction in income in IRPF- Catalonia - Reduced Tax on Transfer Law- Madrid Autonomous Community - Aval for mortgages up to 95% of the value of the home- Valencian Autonomous Community - Bonuses in the Transfer Law Tax- Extremadura - Bonus in the Transfer Law Tax- Galicia - Transfer Tax Reduction- Region ofMurcia - Aval for access to mortgages for 100% of the value of the home- Navarra - Subsidies for VPO purchases- Basque Country - Subsidies for the purchase of homes under housing protection and second-hand housing- La Rioja - Her copper mine

Andalusia - There are no special subsidy programs for buying a home in Andalusia today. However, the Andalusian community offers tax incentives for the purchase of homes for certain groups. If you are under 35 years of age, a reduced type of 3.5% in transfer right tax will be applied if the property you purchase does not exceed 130,000 or 180,000 euros, if you have a disability of more than 33% or if you are a member of a large family.

Aragon - If you are under 35 years old, have a disability of at least 65% or are a woman victim of domestic violence, Aragon will grant a 12.5% discount on the amount you must pay for the transfer right tax to buy a house, provided that its real value does not exceed 100,000 euros.

In the current context of housing access challenges, it is important to be aware of the various forms of assistance and support available at both national and regional levels to help individuals and families achieve their dream of homeownership. From direct subsidies to tax benefits, the diverse range of options offered can play a significant role for those looking to purchase their first home. With awareness and understanding of the requirements and opportunities provided by different administrations, individuals can navigate the path to homeownership more effectively.