Spain is planning to offer adults between the ages of 18 to 35, who are still living with their parents, €250 ($290), Pedro Sánchez, the Prime Minister made this known.
The Spanish Prime Minister announced that his government is worried that too many young adults live with their parents well into their thirties.
According to Quartz, the initiative is part of a broader housing plan which will apply to adults who earn less than $27,398 per year. The money is expected to cover housing rent and will last for two years.
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The severe effects of COVID-19 affected Spain’s jobs market, causing youth unemployment to rise by 38% as the country’s rental market continues to shrink.
While the majority of the population owns, rather than rents, their home, low supply, coupled with high demand has caused rents to rise which makes it harder for young people to save up enough to move out.
