In a joint presentation at the Moncloa Palace this morning, president Zapatero and his new Housing minister, Carme Chacón, unveiled two new measures designed to help the young and low earners afford rented accommodation.

The first consists of tax relief for tenants of all ages while the second is a direct rental accommodation subsidy of €210 euros a month for the estimated 80% of 22-30 year olds in full-time employment who earn less than €22,000 euros per annum. The scheme also involves providing loans of €600 euros to cover the cost of initial deposits demanded by landlords.

The government intends for these measures to be implemented by the start of next year.