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SearchThe Council of Ministers has reactivated housing Royal Decree-Laws with a €10 billion allocation for the 'Tu Casa' line. This mechanism offers public loans at 0% interest, with no fees, of up to €50,000 or 20% of the property value, to cover the down payment for a primary residence. Management will be handled by the ICO, with a repayment period of 10 years following a grace period linked to the mortgage. The decree also includes protections against evictions and limits on speculation, although its entry into force depends on parliamentary ratification.
The Council of Ministers has approved the housing Royal Decree-Laws again, incorporating modifications after the initial rejection in the Plenary of the Congress. The central axis of this new proposal is the 'Tu Casa' line, a public financing mechanism endowed with €10 billion aimed at facilitating the purchase of a primary residence. The objective is to cover the part of the down payment that families cannot save, complementing the private mortgage without replacing banking entities.
The Prime Minister, Pedro Sánchez, defended the re-approval of the decrees, arguing that the "circumstances that made them essential have not changed." According to his statements, the measures seek to "put a stop to vulture funds" and offer solutions of "pure common sense" in the face of the housing crisis. The Minister of Housing, Isabel Rodríguez, clarified that the mechanism is directed at families with stable incomes who, due to speculation, have not been able to accumulate the savings necessary to access a mortgage.
The legal text published in the Official State Gazette (BOE) establishes the basic conditions of the financing. The loan will be granted at 0% interest and without fees. The maximum amount will be the lower of two figures: 20% of the property value or €50,000. For example, for a property valued at €200,000, the maximum loan would be €40,000; for a property of €250,000 or more, the cap would be the full €50,000.
The management of the line will correspond to the Official Credit Institute (ICO), with resources from the Ministry of Housing and Urban Agenda. The repayment period for the capital is set at 10 years, but the beneficiary will have a grace period during which they do not have to amortize the loan. This grace period will be linked to the term of the associated private mortgage, with a maximum of 30 years. This allows the buyer to defer the payment of the public loan for a significant part of the life of their mortgage.
In exchange for these conditions, the acquired property will be subject to a permanent limitation on its transfer price. The owner wishing to sell it in the future will not be able to set a price higher than the acquisition price, updated according to the evolution of the Consumer Price Index (CPI). However, the price may increase proportionally if rehabilitation or improvement works have been carried out on the property, in the terms to be established by regulation. This limitation will be stated in the public deed of acquisition and registered in the Property Registry.
The decree does not currently fix specific access requirements, such as income limits, maximum age, or a cap on the property price. The text refers to subsequent development through a Council of Ministers Agreement and agreements to determine the definitive beneficiaries and the application procedure. For the moment, no age limit is established to access the financing, although the fine print is conditioned on a future regulation.
The decree is not limited to home purchase. It includes 21 other measures aimed at facilitating renting, creating more supply, and combating speculation. Among them are:
The entry into force of these measures depends on parliamentary ratification. After the dissolution of the Cortes due to the electoral call, the decrees must be approved by the Standing Committee of the Congress. This body is composed of 69 deputies. The block that supported the first decree (PSOE, Sumar, ERC, Bildu, PNV, and Podemos) has 35 seats, compared to 34 for PP, Vox, and Junts. However, the second decree, which regulates the automatic renewal of leases, would not receive a sufficient majority in the Standing Committee due to the rejection by the PNV, which could prevent its application.
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