The Spanish Minister of Housing Carmen Chacón announced last week that a financial aid package, designed to help youngsters struggling to enter the rental market, was to be granted. The soaring price in the Spanish property market and the difficulties to find property for rent has become one of the hot electoral issues for the forthcoming elections that are scheduled to take place on March 2008.

The measures are intended to be a drastic counter attack to soaring prices in the Spanish rental market. Mrs. Chacón revealed that the aid intended for youngster between 22 and 30 years and with an maximum annual gross threshold of 22,000 euros and will consist of a lump sum of 600€ plus monthly subside of 210 euros and it’s expected to be functional  by January 1st, 2008.

Landlords with an annual income less than 24,000 euros will also benefit from cuts on their income tax bill.