House plan, intervention to increase the dowry

A two-stage intervention for the House Plan. Few resources were allocated as early as Friday afternoon, 19 December. The rest (the 300 million envisaged for 2026 and 2027) at the centre of the work with which the government sought to recover other resources. The Budget Committee in the Senate, with the amendment dedicated to measures to counter the housing emergency, brought an unexpected postponement. The resources ready to trigger it as early as next year, in addition to what had already been allocated in previous years, were only available in small part: the plan started with an endowment of only ten million.

For the rest, many of the key points of the plan are confirmed, which in any case will have to be implemented by decree. Reference is made to the realisation and renovation 'ofsocial housing to be allocated to rental, at subsidised rents, on the basis of contracts of enjoyment with a view to the subsequent alienation of real estate'. This is the so-called 'rent to buy', which will be dedicated above all to real estate units 'used as main residence for young people, young couples and separated parents'. A strand of intervention is dedicated to the elderly, with the aim of allocating real estate 'to leasing at subsidised rents', also associated with 'property swap contracts, also with a view to favouring the realisation of co-housing projects'.

Returning to resources, Parliament envisages an integration between national and European funds. The initiatives financed within the framework of the Italian Housing Plan - it says - "are identified by favouring complementarity and integration with the interventions financed, in compliance with the eligibility criteria and applicable procedures, by the national and regional programmes of the 2021-2027 programming of the European structural funds". In this sense, the strategy just launched by the European Commission for a EU Housing Plan clearly represents a reference.

One novelty, however, concerns the absence in the new text of a reference toAlternative Investment Funds (AIF). These are real estate funds whose shares, in part, should have been subscribed through the public resources allocated to the housing plan, favouring the raising of capital on the market from institutional investors such as banks, insurance companies, pension funds, and social security funds. In this mechanism, the involvement of publicly controlled entities already active in this sector, such as Cdp real assets, was envisaged. This part of the first version of the amendment was deleted. Its aim was to finance social housing operations, i.e. dedicated to those who cannot afford market conditions but still have an income capacity that allows them to pay a lowered rent.