Housing plan, interventions and funds for young people, couples, the separated and the elderly

A two-stage intervention for the House Plan. Resources as of now: 100 million for 2026 and another 100 million for 2027. And the possibility of also receiving funding from the Social Climate Fund. These are some of the main innovations envisaged by the Budget Law with respect to the new plan for the housing emergency.

The programme of measures, however, is to be implemented by decree. From the manoeuvre come various indications as to its contents. In the text, reference is made, in fact, to the construction and renovation "of social housing to be destined for 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 interventions 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 an EU Housing Plan clearly represents a reference.

However, the text lacks a reference, envisaged in the first versions, to Alternative 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. The objective was to finance social housing operations with a leverage effect.