Spain Revives Housing Measures Ahead of Early Elections
Prime Minister Pedro Sanchez said the new package preserves the main elements of the previous proposals while adding measures aimed at expanding affordable housing, assisting first-time buyers and strengthening protections for tenants.
“The government will continue governing,” he told a news conference following the Cabinet meeting.
Sanchez called the early elections Monday after lawmakers rejected the earlier housing measures Friday. He urged parliament to support the revised package, describing it as a matter of “common sense and humanity.”
He said speculation had disrupted the housing market, preventing normal supply-and-demand mechanisms from working effectively and making government intervention necessary.
The new package includes 21 measures, among them a €10 billion ($11.2 billion) financing scheme providing interest-free loans of up to €50,000 for first-time homebuyers.
The government also plans tax deductions for tenants and incentives for small-scale landlords who offer homes at affordable rents.
To boost housing supply, Sanchez announced €280 million in guarantees aimed at supporting new construction, along with €400 million for social housing providers. Public housing company Casa 47 will also purchase thousands of properties from Spain’s social security system to make them available as affordable housing.
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