Spain's PP Proposes 4% Tax Cut for Young Home Buyers, Extends Mortgage Guarantees

Jan 12, 2025, 01:15 PM

Alberto Núñez Feijóo, the leader of Spain's Popular Party (PP), has announced a series of housing measures aimed at facilitating access to housing, particularly for young people under 40. The measures were unveiled during a summit in Asturias, where Feijóo and regional PP leaders agreed on the 'Declaration of Asturias.' Key proposals include reducing the property transfer tax from 10% to 4% for young people buying second-hand homes, extending mortgage guarantees up to age 40, and offering rent payment insurance and legal assistance to landlords who rent out vacant properties. The PP also plans to introduce a new Land Law and repeal the current Housing Law, which they criticize as overly interventionist. These measures are part of a broader strategy outlined in the 'Plan Nacional de Vivienda,' which includes 10 specific proposals aimed at addressing housing affordability in Spain. Feijóo's announcement comes amid ongoing debates about housing affordability, with the PP positioning these measures as a significant step forward.