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Which municipalities are offering affordable housing options now?

Various municipalities across Portugal are stepping up to offer affordable housing options, thanks to recent land use changes initiated by the government. The focus is on creating new housing areas that align with the needs of middle-class families while maintaining moderate prices. With the decree in place, local councils now have the flexibility to allocate rustic land for residential development without extensive bureaucratic challenges. This initiative is set to ensure that at least 70% of newly completed homes will be sold at reasonable prices, making it a prime time for buyers looking for value. These localised efforts directly respond to the affordability crisis that many families face today in accessing quality housing. New construction spots are emerging in several regions, each presenting unique opportunities for both homebuyers and investors. As municipalities embrace these changes, buyers can expect not only affordable housing but also enhanced community amenities and infrastructure. It's an encouraging trend that integrates more families into the housing market, promising long-term benefits to local social structures. Don't miss out on the chance to explore options from various municipalities prioritising affordable housing solutions. Your future home in Portugal awaits; contact us now to learn more about the available listings in these active areas!

Tuesday, 03 December 2024 - News
Which municipalities are offering affordable housing options now?

A decree-law, approved on Thursday by the Council of Ministers, changes the Legal Regime of Territorial Management Instruments (RJIGT), exceptionally enabling councils and municipal assemblies to create new housing areas on land compatible with the urban area.

The process simplifies the availability of land, as this decision will depend solely on city halls and municipal assemblies, without the need for approval by other bodies.

However, at least 70% of these houses will have to be sold at “moderate prices”, resulting from the national median and the local median, because they are intended to increase the housing supply for the middle class, the government highlighted in a statement.

“This measure will increase housing construction in all municipalities, ensuring that homes are affordable for middle-class families and, at the same time, profitable for companies in the real estate sector. The lack of land has been one of the main causes of the high cost of housing”, considered Manuel Castro Almeida, Deputy Minister of Territorial Cohesion, cited in the statement.

City halls continue to have to respect the specificities defined for national agricultural and ecological reserves.

For example, construction remains prohibited “on units of land with high suitability for agricultural use, under the terms of the National Agricultural Reserve”.

“As for the National Ecological Reserve, the fundamental natural values ​​and functions continue to be protected, as well as the risks to people and property”, is highlighted in the approved diploma.

Also mentioned in the statement, the Minister of Infrastructure and Housing, Miguel Pinto Luz, considered that the measure “will promote greater social equity by allowing more housing construction and, consequently”, increasing the supply of affordable homes.

Pinto Luz highlighted that “solving the country’s housing problem is a national urgency” and assured that the Government “is committed to implementing the measures of the Construir Portugal program” so that everyone has “access to decent housing”.

 

Source: https://www.theportugalnews.com/news/2024-12-02/new-land-rules-to-help-middle-classes-buy-homes/93933

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