Nearly 900 young people benefit from Catalan government loans to buy their first home

Nearly 900 young people have already benefited from the Catalan government’s loan program to help pay the down payment on their first home.

Since the initiative was launched in July, the government has received over 4,000 applications, of which around 1,800 have been deemed eligible.

"The measure has been well received and was clearly necessary," says Vanessa Servera, director of the Catalan Institute of Finance (ICF), in an interview with the Catalan News Agency (ACN).

The program is aimed at young people between 18 and 35 years old to help them cover the down payment on their first property purchase.

The loans cover up to 20% of the property price, with a maximum of €50,000. They are interest-free and repayment begins only once the mortgage is fully paid off.

In return, the property becomes permanently classified as protected housing, meaning it can be resold, but only at its original purchase price plus inflation.

"This allows young people to buy instead of renting, often paying even less than rent, and when they decide to sell, they do so without losing purchasing power," Servera explained.

The average loan amount granted so far is around €36,000, though it varies across Catalonia: nearly €40,000 in Barcelona and around €23,000 in southern Catalonia.

In the first 100 days of the program, a total of €31.6 million in loans have been approved, almost one-third of the funds allocated for the first year.

More than half of applicants are between 30 and 35 years old, while about one-third are aged 25 to 29.