Canary Islands offers land to the State to build 997 rental homes

2020/08/12 13:49:51 Written by Canarian Weekly National

The Canary Islands has offered a total of 92,897.25 square metres distributed between the islands of Gran Canaria, Tenerife, Fuerteventura and Lanzarote to build affordable housing.

The Minister of Public Works, Transport and Housing, Sebastián Franquis, has advised the Ministry of Transport, Mobility and Urban Agenda of the land available in different municipalities of the islands to build 997 rental homes at affordable prices.

This is to try and assist the current imbalances of the rental market in certain urban and tourist areas, in which there is enormous difficulty in accessing rental housing due to the shortage of supply and the increase in prices, Franquis said in a statement.

The municipalities that are included are as follows:

Tenerife:
 Santa Cruz de Tenerife, Candelaria, Guía de Isora and San Miguel de Abona

Gran Canaria:
 Arucas, Las Palmas de Gran Canaria and Mogán

Lanzarote:
 Arrecife and Yaiza

Fuerteventura:
Puerto del Rosario and La Oliva

The project is called El Plan 20,000 which is a countrywide imitative and will instruct private companies to complete the build with their own resources in exchange for collecting the rental income for a specified time period. However, when considering protected housing, these rents will be assessed and controlled at all times by the Administration, which ensures that rents are offered at affordable prices for families with lower incomes.

For the Canary Islands, it is essential to be part of the 20,000 Plan of the Ministry of Transport, Mobility and Urban Agenda, hence the enormous effort we have made by making land available for the construction of 997 homes and promoting the social rental market in the Canary Islands, explains Franquis.

"It is a key market to guarantee the right of access to housing for families with less income, young people and people in situations of vulnerability. In addition, the Canary Islands need to have a sufficient stock of affordable rental housing".