The Govern ‘s new Lloguer Segur plan will be approved before Christmas, or at the latest in January, as confirmed by the Minister of Housing, José Luis Mateo. The Balearic Executive seeks to accelerate the implementation of a program aimed at bringing currently empty homes to the rental market through limited prices and comprehensive guarantees for owners.
The central objective of the plan is to offer security to property owners:the Government guarantees the monthly rental payment and the return of the apartment in perfect condition, in exchange for renting it at a regulated and accessibility-oriented price. To reinforce its attractiveness, the Executive has introduced significant changes with respect to the initial design.
Among the most important new features is that the Government will advance the money needed to rehabilitate or refurbish homes that do not meet the habitability requirements. This public investment will be subsequently discounted from the rent that the owner will receive, thus allowing the entry into the program of properties that require improvements and whose owners cannot assume the work immediately.
Mateo assures that both real estate agents and property managers have shown their support for the plan and agree that it offers real guarantees to homeowners. However, they recognize that Lloguer Segur is still not sufficiently well known among owners of empty homes.
For this reason, the Government has launched information campaigns and promotional actions to broaden its scope and encourage participation.
With these modifications, the Balearic Government intends to promote a program that could significantly increase the supply of affordable rental housing, a priority objective given the market situation on the islands.
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