Canary Islands Government Boosts Public Housing Funding in Tenerife

The Canary Islands government has officially announced a significant boost in its funding for public housing developments in Tenerife.

Details of the Funding Increase

• An addendum to a cooperation agreement between the Instituto Canario de la Vivienda (ICV) and the Tenerife Island Council increases the project budget by over 5.2 million euros, bringing the total to approximately 50.25 million euros.
• This funding will support the construction of seven new protected housing developments across Tenerife.
• The additional funds aim to speed up the completion of projects, with eight already underway and more in planning stages.

Broader Context and Goals

• The funding is part of the broader Canary Islands Housing Plan 2020-2025.
• The government emphasizes that this increase will help address the island's housing shortage by providing more affordable homes to residents.

The move reflects a broader effort by the regional government to prioritize housing and social welfare, especially amid rising demand for affordable living options in Tenerife.

Funding Sources

• The agreement details the financial contributions from both parties:
  • The ICV provides nearly 28.7 million euros.
  • The Tenerife Council contributes over 21.5 million euros.
• The funds will be disbursed over the coming years, ensuring ongoing support for the development projects.

Impact for Residents

• This initiative offers more homes and a step toward greater housing stability on the island.