Cooperation Agreement for Affordable Housing in the Canary Islands

Background

The Canary Islands' government officially announced the publication of a cooperation agreement between the Canary Island Housing Institute (ICV) and the Tenerife Island Council.

This agreement aims at improving access to affordable housing on the island.

Key Details of the Agreement

• Signed on: December 18, 2025
• Aligned with: Plan de Vivienda de Canarias 2020-2025
• Focus: Helping residents with limited economic resources secure housing, especially through aid programs like rental assistance and youth housing subsidies.

Contributions and Roles

• The Tenerife Council will contribute €1.9 million towards these initiatives.
• The support will be specifically directed at applicants in Tenerife.
• Management and Oversight: The ICV will manage the distribution process, establish the regulatory framework, and oversee fair implementation.
• Promotion and Facilitation: The Council will facilitate citizen support and promote communication.

Significance and Duration

"This move is especially significant as it addresses regional efforts to reduce barriers to housing amid ongoing challenges in affordable living costs."

• Demonstrates a coordinated effort between different levels of government to improve social welfare and boost economic recovery.
• Highlights efforts to foster more inclusive communities in the Canary Islands.
• The agreement will be in effect for four years, with potential for extension.

Overall Impact

• Ensures sustained support for Tenerife residents in their quest for stable housing.
• Addresses regional challenges to affordable living.