It was one of the fiscal measures of the new Housing Law that a few days ago the PSOE and United Podemos agreed: the reduction by almost half of the tax advantages that can be registered by the Housing Rental Entities. A measure that is ahead of the 2022 General State Budgets, as advanced by the Minister of Finance, María Jesús Montero, at the press conference to present the public accounts.
Spain, fourth country in the OECD with the least social rental housing
The reduction of the bonus from 85% to 40% would thus be applicable when the PGEs are approved, without having to wait for the new law, which is still in Moncloa and whose parliamentary processing, foreseeably, can last throughout all of 2022.
The figure of Housing Rental Entity, currently, protects companies that own more than eight homes, which place them on the market under a long-term rental regime.
Since 2014, thanks to a measure approved by the Government of Mariano Rajoy, these large owners can sign up a bonus of up to 85% in the share of their Corporation Tax, which now, in the PGE, will be reduced practically by half .
The ‘young rental voucher’, for incomes below 20,844.9 euros
Budgets, as indicated by María Jesús Montero, have housing as a priority, as it is one of the main problems for young people, she assured.
An item for Housing that grows 46%, to 3,295 million euros. Of these, 500 million will be focused on increasing the affordable rental housing stock.
In addition, it includes another 200 million corresponding to the voucher for young people, with which it will reward those under 35 years of age and which, finally, will not be linked to a specific rental price. A measure that, according to experts, may have an inflationary effect on rental prices.
This ‘Youth Rental Bonus’ will consist, reflect the PGE, in the payment of a monthly amount of 250 euros per month, for a period of two years for young people who prove income from work. Specifically, annual income must be less than 3 times the IPREM, the Public Multiple Effects Income Indicator, which for next year is expected to reach 6,948.3 euros. In other words, annual income of less than 20,844.9 euros per year.
In this sense, the PGE state that the ‘Youth Rental Bonus’ will be complemented by the aid established in the State Plan for Access to Housing 2022-2025, which will offer aid modulated according to the circumstances of the young people or the area in which they are that live, also incorporating as part of the Plan the subsidization of loans.