Continues the controversy and the debate of the rent voucher

The real estate sector warns that the rental bonus leads to price increases

  • The new aid will offer payments of 250 euros per month to those under 35 years of age

Raquel Sánchez, Minister of Transport, Mobility and Urban Agenda. EFE

The approval of young rent assistance bonus residential, approved in the Council of Ministers yesterday, already causes alarm in the real estate rental sector due to the counterproductive effects in terms of price increases that it can cause.

Specifically, the sources consulted by the Economist in this area they highlight the error that supposes that the "new subsidy will do nothing to solve the problem of the lack of supply in the Spanish market"; it's more It may be an incentive for rents to continue to become more expensive”. Thus, these same sources point out that "there is already extensive accumulated experience that demonstrates these pernicious collateral effects of direct aid of this nature." 

In this case, the payments approved by the Council of Ministers consist of 250 per month for young people between 18 and 35 years old with incomes that do not exceed three times the IPREM, that is, 24.318 euros per year. In addition, the rental income must not exceed 600 euros per month, although it can be increased to 900 euros in the most stressed areas, if the autonomous communities so decide. Likewise, the aid is also open to the room rental, where the income received will be 300 euros, extended "in certain cases" up to 450 euros if, in the same way, the monitoring commission determines it.

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The bonus will be granted for a period of two years and will be compatible with other aid from the autonomous communities, provided that it does not exceed «40% of the rental income, discounting the bonus». As for the deadline to request it, it is expected to be within "a month and a half or two months maximum", according to sources from the Ministry of Transport, Mobility and Urban Agenda, although it will be retroactive from January 1.

From the Ministry of Transport and Mobility, however, they deny that price increases such as those feared in the real estate sector may occur. «Aid can be obtained once the contract is signed, so there should be no inflationary movement«, They explain.

Criticism, however, also comes from other fronts on principles more akin to the coalition Executive, such as that of the CCOO union. From this center they continue to advocate for a more extreme solution of market intervention. Specifically, "the structural way of making access to housing cheaper does not go through subsidizing the price of rent that rises for tenants, but by regulate the rental market, limiting the maximum prices in stressed areas, while at the same time establishing and expanding a powerful public park of affordable rentals».


Source: The Economist

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