The president of the Generalitat, Carlos Mazón, announced that the Valencian government will dedicate 20 million euros in guarantees to help young people buy their first home, and he emphasized that the amount could grow if demand warrants it. (Source: Generalitat Valenciana)
He shared this during the launch of the guarantees program from the Valencian Institute of Finance, which makes credit accessible to young adults up to 45 years old for acquiring their first property. (Source: Generalitat Valenciana)
The president noted that this IVF guarantee plan enables a buyer to obtain a loan for as much as 95 percent of the property’s price. He added that the measure helps young buyers overcome the hurdle of providing a down payment of at least 20 percent. (Source: Generalitat Valenciana)
He also indicated that obtaining the IVF guarantee involves no cost to the applicant or the collaborating financial institutions, and that the project aims to enable the acquisition of nearly one thousand homes. (Source: Generalitat Valenciana)
The event was attended by the vice president and minister of Social Services, Equality, and Housing, Susana Camarero, the minister of Finance, Economy, and Public Administration, Ruth Merino, and representatives of the financial entities. (Source: Generalitat Valenciana)
The president signed a collaboration agreement with the listed institutions, which will serve as the lenders for young buyers seeking housing and who will rely on the state guarantee for this operation. The banks and credit cooperatives include Caixabank, Santander, Abanca, Caixa Popular, Caixa Ontinyent, Cajamar, and several rural entities in the region. (Source: Generalitat Valenciana)
Young applicants must approach one of these financial institutions to request the mortgage, and after a pre-approval, they will submit the guarantee application through the IVF electronic portal. The homes can be new or existing, for sale on the open market or under public protection, intended as the primary residence. The purchase price, excluding costs and taxes, must be equal to or below 277,000 euros. (Source: Generalitat Valenciana)
The president also highlighted advantages of this IVF program compared with similar initiatives like those from the ICO. Unlike the ICO, the IVF plan does not cap eligibility by income level and welcomes applicants up to 45 years old, compared with a maximum of 35 for the ICO. The ICO’s maximum home price stands at 250,000 euros, while the IVF program sets a ceiling of 277,000 euros. (Source: Generalitat Valenciana)
Legislature
The head of the Consell asserted that this measure shows the government’s ongoing commitment to a housing agenda with practical, realistic solutions and a more inclusive, accessible housing policy. It aims to stimulate the real estate market, create jobs, and help many young people settle and thrive in the community. (Source: Generalitat Valenciana)
He emphasized that this initiative represents the largest mobilization of housing measures, technical resources, administrative tools, legislation, businesses, and institutions in the history of the region. (Source: Generalitat Valenciana)
In this context, he mentioned that the IVF guarantees complement the Vive Plan, which envisions the construction of 10,000 affordable homes and has already drawn more than 100 municipalities in the Valencian Community to participate. (Source: Generalitat Valenciana)
On the fiscal front, the Consell has reduced the transfer tax by 25 percent, lowering the rate from 8 percent to 6 percent for all young buyers under 35 purchasing a home worth up to 180,000 euros. In the first five months of the year, Valencian youths who bought their first home saved an average of about 1,400 euros thanks to the new reduced ITP rate for under-35 buyers. (Source: Generalitat Valenciana)
Additionally, the expansion of the Young Voucher 2023-2024 by 6 million euros will allow 2,000 more beneficiaries, bringing the total to 6,000 rented homes supported. (Source: Generalitat Valenciana)
All in all, the administration views these moves as pivotal to broadening housing access, energizing the local economy, and helping young residents establish roots and prosper within the community. (Source: Generalitat Valenciana)