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Spanish Government Allocates €473M to Housing in 2018, up by 1.3% YoY

4 April 2018 – Eje Prime 

The General State Budget (PGE) for 2018 has assigned funds to housing once again. The Government has agreed to allocate €473 million to the issue, 1.3% more than in 2017. Of the total amount, 94.4% will be used for development, administration and aid for renovations and access to housing.

These funds will include loans intended for the execution of state housing plans, such as the one launched a month ago for the years 2018-2021.

According to the Government, the new plan will maintain the lines already established in areas such as promoting the rental market and the renovation of buildings, aimed at young people and retirees, above all. This year, the state administration is going to allocate €350 million to subsidies for the acquisition and renovation of homes, as well as €75 million to subsidise loans.

On the other hand, the State is seeking to support the development of public housing for rent, and in this regard, the Ministry of Development has already closed lines to co-finance projects of that kind.

Moreover, the body chaired by Iñigo de la Serna, will contribute €4 million to agreements with various autonomous communities and municipal entities to remodel local neighbourhoods.

Original story: Eje Prime 

Translation: Carmel Drake