Madrid for young people: help to buy
Have you ever heard of ‘’ help to buy ’’? This is an economic measure that helps with the purchase. But not only. We try to get more into this collaboration, and to better understand how, in Madrid, this practice has become fundamental for real estate and young people.
As we have anticipated, the term '' help to buy '' refers to a public-private relationship that allows people to grant mortgages (although they do not have guarantees). Therefore having a minimum monthly income, you can access it. This measure, of an Anglo-Saxon nature, has crossed national borders, arriving in Madrid's real estate. One of the countries and cities most affected by the Covid emergency is considering how to help potential investors. Indeed, the most important: young people.
In fact, the city of Madrid is a destination for many Erasmus students every year, and for young workers who, for obvious reasons, need a temporary or permanent allocation. Many of which, having no particular economic guarantees, opt for more flexible solutions.In recent years, however, the wonderful Spanish city has become a destination for young investors who want to change their lives, starting with the most important investment: real estate.
But the lockdown has hibernated the real estate market that has been waking up in recent years. With the health system collapsing, Madrid has put the economy on stand-by, but is now beginning to suffer. And this is where the idea was born.
For weeks now, the main experts have come together to be able to find a solution capable of restarting the entire economic system, without having to upset the prices (increasing them or even worse lowering them considerably).
How does this innovative tool work to relaunch the Spanish real estate?
Those who take out a mortgage, will pay only 5% of the total property value in advance. Currently, however, 20% is required from Spanish banks. And the remaining 15%? It will be granted by the local autonomies or by the government.
What can I say, a truly unique tool, which however has not raised some doubts.
Despite everything, however, what needs to be done is to wait for new implications on this issue. From a health point of view, the improvement is evident, but it is necessary to associate these data also with the economic ones. Everyone wonders how effectively this tool will, in the short term, bring Spanish real estate to the surface. Recall that Spain and the city of Madrid have achieved particular visibility thanks to the low cost of living (compared to the European average) and to the many excellent services that both the city and the nation offer.
So, will young people take this opportunity to invest in Spanish real estate despite the pandemic situation? We hope that the answer to this question is positive. In the meantime, we will continue to update you on world real estate!
As we have anticipated, the term '' help to buy '' refers to a public-private relationship that allows people to grant mortgages (although they do not have guarantees). Therefore having a minimum monthly income, you can access it. This measure, of an Anglo-Saxon nature, has crossed national borders, arriving in Madrid's real estate. One of the countries and cities most affected by the Covid emergency is considering how to help potential investors. Indeed, the most important: young people.
In fact, the city of Madrid is a destination for many Erasmus students every year, and for young workers who, for obvious reasons, need a temporary or permanent allocation. Many of which, having no particular economic guarantees, opt for more flexible solutions.In recent years, however, the wonderful Spanish city has become a destination for young investors who want to change their lives, starting with the most important investment: real estate.
But the lockdown has hibernated the real estate market that has been waking up in recent years. With the health system collapsing, Madrid has put the economy on stand-by, but is now beginning to suffer. And this is where the idea was born.
For weeks now, the main experts have come together to be able to find a solution capable of restarting the entire economic system, without having to upset the prices (increasing them or even worse lowering them considerably).
How does this innovative tool work to relaunch the Spanish real estate?
Those who take out a mortgage, will pay only 5% of the total property value in advance. Currently, however, 20% is required from Spanish banks. And the remaining 15%? It will be granted by the local autonomies or by the government.
What can I say, a truly unique tool, which however has not raised some doubts.
Despite everything, however, what needs to be done is to wait for new implications on this issue. From a health point of view, the improvement is evident, but it is necessary to associate these data also with the economic ones. Everyone wonders how effectively this tool will, in the short term, bring Spanish real estate to the surface. Recall that Spain and the city of Madrid have achieved particular visibility thanks to the low cost of living (compared to the European average) and to the many excellent services that both the city and the nation offer.
So, will young people take this opportunity to invest in Spanish real estate despite the pandemic situation? We hope that the answer to this question is positive. In the meantime, we will continue to update you on world real estate!
