Mazón Highlights Over 1,000 Young People Benefit from Consell's Guarantee Line for First Home Purchase

The president of the Generalitat, Carlos Mazón, has emphasized that "a total of 1,037 young people from the Valencian Community have benefited from the Generalitat's guarantee line for purchasing their first home," which "has enabled the acquisition of properties worth nearly 81 million euros."

Mazón stated in a communiqué that in the first nine months of the Valencian Institute of Finance's (IVF) guarantee program, aimed at facilitating credit access for young people aged 18 to 45, "714 operations have been approved with a guaranteed amount exceeding 8.8 million euros."

The head of the Consell affirmed that "with this IVF line, more favorable financing conditions are offered so that they can overcome the barrier of having a down payment of at least 20 percent of the property's price."

This guarantee plan "allows buyers to obtain a loan of up to 95% of the property's price, which is a significant support for those wishing to access a property," he highlighted.

Specifically, 503 people from the province of Valencia, 365 from Alicante, and 169 from Castellón have benefited, in "an example that the housing policy with real actions of this Consell works," he emphasized.

In this regard, the president highlighted "the Consell's comprehensive policy with actions in fiscal matters, regulations, administrative simplification, aid, or bidding for new properties to offer an effective, serious, and rigorous response from the first minute of this legislature to a problem that has been neglected for many years by the previous executive."

Thus, in fiscal matters, he referred to "the 99% reduction of the Inheritance and Donations Tax for children, spouses, parents, and the 25% reduction of the Property Transfer Tax (ITP) for those under 35, large and single-parent families, people with disabilities, or women victims of gender violence, among other groups." "This last action, which since its entry into force in January 2024, has benefited 22,705 declarants, with an average saving of 1,325 euros, of which more than 15,000 are young people with an average saving of 1,437 euros," he detailed.

"We want to take a further step in this area with the approval in the 2025 budgets of a 10% reduction in the ITP for all citizens of the Valencian Community who are going to purchase a home, so this tax will decrease from the current 10% to 9%," he indicated, adding that "the Documented Legal Acts Tax will also be reduced to make the costs and expenses generated by the purchase of a property more affordable."

Mazón stressed that the Consell "will continue working to address the challenges of housing access, especially for young people and vulnerable groups, with measures that adapt to market needs and offer sustainable long-term solutions."

In that sense, he indicated that "within the Plan Vive, to which more than 300 municipalities have already adhered, the Generalitat has tendered more than 1,600 protected homes in 2024 and will have more than 2,000 properties under construction on public land throughout 2025."

The objective of the Plan Vive is to mobilize available public land, both regional and municipal, for the construction of protected public housing, and to facilitate access to this resource, especially for young people and vulnerable groups. "We are demonstrating with actions that collaboration between administrations and private initiative is essential for housing construction," he stated.

In regulatory matters, he emphasized "the administrative simplification that has allowed the reform of laws to expedite the processing of licenses, as well as the Public Protection Housing (VPP) decree that includes a minimum reserve of 40% of promotions for young people under 35."

"In social matters, it is worth highlighting the rental aid that for the first time in 2024 has reached 100% of applicants entitled to it, as well as the increase with own funds by nine million euros of the Young Rental Bonus, which has facilitated a 40% increase in the number of beneficiaries. In this line, it should be remembered that the Consell has already called for 22.8 million euros in Young Rental Bonus aid for the year 2025," he remarked.

Furthermore, "the Generalitat has increased by 61% the aid for young people in the Valencian Community to acquire a home in municipalities with 10,000 inhabitants. Thus, the funds for this line have increased from 3.6 million euros to 5.8 million euros for 2025," he added.