The Ministry of Public Works, Housing and Mobility of the Canary Islands Government, through the Canary Islands Housing Institute (ICAVI), led by Antonio Ortega, has signed a specific cooperation agreement with the Lanzarote Cabildo to channel island funds aimed at strengthening the Youth Rental Voucher on the island. The agreement, presented on Monday at the Canary Islands Government Council meeting, will introduce an island contribution of €1.4 million transferred by the local Cabildo to the regional Youth Voucher programme, which this year already has an overall budget of €10.6 million from state funds. This initiative will expand the coverage of the assistance and ensure that a greater number of young people in Lanzarote can benefit from this rental support.

According to a press release from the administration led by Fernando Clavijo, the Cabildo’s contribution will be integrated into the standard management carried out by the Canary Islands Housing Institute, allowing for optimized processing, avoidance of administrative duplications, and ensuring coordinated and transparent management of public funds.

This cooperation instrument is part of the Canary Islands Housing Plan 2020-2025 and reinforces the commitment of the regional government and the Lanzarote Cabildo to facilitate access to decent and suitable housing for young people on the island.

The Youth Rental Voucher consists of direct assistance of €250 per month for a maximum of 24 months, provided the amount does not exceed the actual rent or the fee for use. To be eligible for this benefit, applicants must be aged between 18 and 35 at the time of application, be registered at the property covered by the contract, demonstrate limited income that generally should not exceed three times the IPREM, not own or hold usufruct rights to another property in Spain unless justified, and must be named as holders of a valid rental or usage contract.