Canary Islands approve young buyers’ mortgage agreement, with CaixaBank first to join
The planned scheme could offer eligible buyers in Fuerteventura and the other islands up to 95% mortgage financing for homes costing no more than €250,000.
Young buyers and families with dependent children in Fuerteventura could gain access to mortgages covering up to 95% of a property’s value under a Canary Islands scheme the regional government aims to launch before the end of 2026.
Housing minister Pablo Rodríguez told Parliament on 10 November that his department had approved the model cooperation agreement for the Hipoteca Joven–Mi Primera Vivienda programme. CaixaBank will be the first lender to join, he said, with work under way to bring the scheme into operation.
The programme is not yet operational. The government intends to launch it after the order is published in the Official Gazette of the Canary Islands and agreements are signed with participating lenders.
Who could qualify?
The initiative is intended for people aged up to 40 and families with dependent children, with no age limit for the latter. Eligible homes must be in the Canary Islands and cost no more than €250,000.
Financing could cover up to 95% of whichever is lower: the purchase price or the property’s valuation.
Other housing measures
Rodríguez said the scheme formed part of a wider effort to help young people live independently. He said first-home purchase grants had received €13.5 million between 2023 and 2026, benefiting 1,636 young people.
He also pointed to the Bono Alquiler Joven, a rental grant offering up to €250 a month for 24 months. Its 2026 round has a budget of €13.07 million and has received approximately 8,300 applications, which are being reviewed.
The minister said the future Canary Islands Housing Plan for 2026–2030 would include further support for renting and buying, as well as measures for municipalities with fewer than 20,000 inhabitants.