Canary Islands Youth Rent Bonus Funding Updates

Overview

The Canary Islands government has announced new disbursements and adjustments of funds for the Youth Rent Bonus, a scheme launched in 2022 to help young people access affordable rental housing.

The scheme benefited from €21.2 million allocated by the Spanish government, with €10.6 million allocated in both 2022 and 2023.

Recent Actions

• The government has approved new aid payments.
• Previous grants have been adjusted.
• Some beneficiaries have been declared ineligible due to non-compliance with documentation or conditions.
• A total of 65 cases were revoked, reducing the total aid from €21.2 million to approximately €297,345.33.
• New beneficiaries are now authorized to receive payments.
• There is a remaining credit of over €298,000 for future allocations.

Review and Corrections

• All previous cases have been reviewed, correcting errors and confirming aid justified for over 244 cases.
• Payments have been suspended for others who failed to justify rent payments or meet requirements.

Objectives and Standards

• These measures are in line with legal standards on responsible fiscal management and transparency.
• The aim is to ensure that funds are allocated correctly and transparently.
• Ultimately, the measures support young residents in their search for affordable rental housing in the Canary Islands.