Tuesday, March 23, 2021
Real estate information

What is a subsidized housing (VPO)?

A house is considered subsidized when the autonomous community in which it is located verifies that it meets a series of characteristics regarding maximum dimensions and maximum price (for sale or rent), through the "provisional classification" of the Project and subsequent "final classification" of the finished housing.

The price of subsidized housing will therefore be lower than free housing but in return will have a series of limitations: it must be used as the regular and permanent home for families with income below a certain amount, having its use regulated throughout the duration of the protection scheme.

The maximum sales or rental price, the maximum income of the buyers/tenants, as well as other additional requirements, will be established by the different autonomous communities, and will depend on the type of protection the house has, the municipality where it is located and the legislation in force at the time when the house obtains the "provisional classification".

There are both subsidized houses for sale and for rent. In addition to the price improvement compared to free housing, buying a subsidized house means the possibility of obtaining a series of financial aids from the state and/or the autonomous communities.

But if you decide to opt for this type of housing, you should know that while it maintains its "subsidized" category, it must be used as a regular and permanent residence, with no possibility of freely selling it.

In fact, to sell it before 10 years have passed since the purchase (which is usually the average term in the different regions), it will be necessary to request authorization from the autonomous community, in addition to returning the aids that have been obtained.

To know all types of subsidized housing, it is necessary to access each "autonomous plan".

Oficina Principal – Main office
Plaza Cruz del Llano 59
38670 - Adeje, Santa Cruz de Tenerife

Sucursal - Branch
Calle Hermano Pedro, 7 Local 2
38670 - Adeje, Santa Cruz de Tenerife