Key conditions will be that the price of the property doesn't exceed 280,000 euros and that its built area is no more than 130 square metres.
Mayor Estefanía Gonzalo says that this is a measure to "benefit existing residents" so that they "do not have to leave the municipality due to the high prices for buying and selling homes". A points system for assessing aid will take account of how long people have lived in Andratx - the longer the time, the higher the points.
The mayor adds that the town hall is seeking solutions, within municipal powers, "to alleviate the extra cost of living in the municipality" due to the incessant rise in prices and to high inflation.
* The town hall hasn't given any indication as to how many properties there are in Andratx which are valued at 280,000 euros or less, this threshold amount being ten thousand euros more than that for the Balearic government's scheme for guaranteeing 20% of mortgages for first-time buyers.
When the government announced its scheme, it was estimated that just under 19% of properties in Mallorca were on the market for 270,000 euros or less (excluding taxes). In Andratx, it was calculated that 5.2% of all properties for sale in the municipality were below this threshold.
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Shared ownership
Sounds like the perfect recipe for corruption and hanky panky between sellers, builders and prospective purchasers and a massive loan default for council tax payers to be asked to cover.