For citizens from 18 to 35 years old, the Spanish authorities are going to pay about $ 300 a month, which should be enough to rent a dwelling. The costs of the initiative are planned to be included in the country’s budget for 2022.
Preferential payments will be provided to young Spaniards earning less than 23,725 euros (27,411 thousand US dollars) per year. These young people may be offered a monthly housing cost compensation of € 250 (US $ 289).
Spain is experiencing a high youth unemployment rate (38 percent at the beginning of October 2021), with a skyrocketing housing rental market.