A new housing initiative launched is aiming to tackle one of the biggest barriers facing young buyers on the Costa del Sol: the upfront deposit.

The project, called Tu Primer Hogar (Your First Home), introduces a model that allows people to access a property without paying the initial lump sum.

That cost alone that can currently reach up to 30% of a home’s value once taxes and fees are included.

It comes as soaring property prices and limited savings capacity have pushed home ownership out of reach for many, despite stable incomes.

Rent now, buy later

At the heart of the scheme is a rent-to-buy system that removes the need for an upfront payment altogether.

Buyers begin as tenants, paying monthly rent, but with a key difference: part of those payments is deducted from the final purchase price of the property.

That price is fixed from the outset, shielding buyers from future market increases and speculation.

The aim is to give younger residents a clearer and more predictable path to ownership, something that has become increasingly difficult in recent years.

Backed by institutions and developers

The initiative was officially unveiled in Marbella with the backing of regional officials and property sector representatives.

Maria Rosa Morales, territorial delegate for housing at the Junta de Andalucia in Malaga, described the scheme as ‘pioneering’, highlighting its potential to address one of the region’s most pressing social challenges.

Local authorities and developers also stressed the need for innovative solutions as traditional routes onto the property ladder continue to narrow.

First homes planned for Estepona

The project will begin with a development of 27 homes in Estepona, marking the first step in what its promoters say is a scalable model.

There are plans to expand the scheme across Malaga province and potentially into other parts of Spain if successful.

Structurally, the initiative will operate as a SOCIMI (Spain’s version of a real estate investment trust), with ambitions to list on the stock market, in a move designed to attract investment while opening the sector to smaller investors.

With deposits increasingly out of reach and prices still climbing, projects like Tu Primer Hogar are positioning themselves as alternatives to a system that many feel is no longer working.

Read more Andalucia news at the Spanish Eye.