Spain will start paying benefits to young people who move out from their parents

The Spanish government intends to pay 250 euros per month to low-income young people.  There is a problem in the country - more and more young people stay with their parents.

Thus, the Spanish authorities seek to ‘cut the umbilical cord’, reports Reuters.  The fact is that young people are not able to pay rent on their own.  Spanish Housing Minister Raquel Sanchez said during a press conference that starting from this month, payments of benefits would become available for Spaniards up to 35 years of age.

Young people with an annual income below 24,318 euros will be able to count on the state assistance.

The rental subsidy will be provided monthly for two years.  It is assumed that the lack of money will no longer be an obstacle to moving out from parents and starting an independent life.

Spain has one of the highest rates in Europe in terms of the number of young people living with their parents.  According to data for 2020, 55% of young people aged 25-29 did not leave their family homes.  This is 6.5% more than in 2013.

Experts explain this by the fact that in Spain there is a high level of youth unemployment - 29% of Spaniards under 25 are unemployed.

Subsidies also have opponents - because of the payments, the demand for small apartments will increase, which will lead to their rise in price.  Spaniards, who will not receive governmental payments, will feel disadvantaged as they will have to pay higher rents.