Cooperation Agreement to Strengthen Housing Assistance for Young Residents in Lanzarote

Overview

The Canary Islands government has officially published a new cooperation agreement aimed at strengthening housing assistance for young residents in Lanzarote.

This deal kicks off with a significant financial contribution from the island's local government, amounting to €1.4 million, which will be used to expand the reach of the national youth rental subsidy, Bono Alquiler Joven.

Bono Alquiler Joven

• Regulated by a recent royal decree
• Offers young people under 36 years old a monthly aid of €250
• Helps cover rental costs
• Maximum duration of two years

Partnership Goals

• Allows Lanzarote's local authorities to directly fund additional assistance on the island
• Makes the subsidy more accessible for young residents facing housing affordability challenges
• Ensures a transparent, coordinated process
• Provides dedicated resources and support infrastructure

Significance

"The agreement underscores the importance of local and national cooperation to address housing issues among youth," — official statement

Objectives

• Pool resources and streamline management
• Amplify the impact of housing support measures
• Help more young people secure stable, affordable homes
• Adapt to rising housing costs in the region

Monitoring and Adjustments

• Provisions for monitoring the program
• Ensures effectiveness and responsiveness to residents' needs