The Government of the Canary Islands has decided to grant a subsidy for first-time young homebuyers.

The grant will cover up to 20% of the maximum total cost of the purchase, with a limit of 11.000€ per property. The dateline to present the grant request is the 31^st of June 2021.

To qualify you should be under the age of 35 and have bought the property between the 1^st of September 2020 and the 30^th of June 2021, being such property your habitual residence for at least the 5 years following the purchase.

In order to be benefit from such grant there are also other requirements to follow:

Your annual income must not exceed 22.558€, but if you have a large family (3 or 4 children) or if there’s someone in the family with a general disability such income can be up to 30.076€. Instead, if the large family is rated under the category of special (5 children or more) or there’s a family member with an special disability the limit has been set up at 37.595€.

You must have requested a mortgage that covers at least 50% of the total value of the purchase.

Also, none of the family members can own a property, unless they can prove their inability to enjoy the property. Some of these exceptions are the non-availability of the house because of a separation/divorce, building in ruins or inaccessibility to the property.