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Which municipalities offer new housing areas for middle class buyers?

Middle-class buyers in Portugal can look forward to a range of municipalities now offering newly designated housing areas, thanks to recent legislative changes in land management. This initiative allows local councils to designate rustic land for construction, directly addressing the need for affordable housing. With the mandate that at least 70% of these new developments are sold at moderate prices, municipalities are making strides toward accommodating family needs.

Cities that take advantage of these new regulations will become prime locations for potential home buyers, combining affordability with urban convenience. This is a significant opportunity to invest in homes that cater specifically to the budget of the average family in Portugal, ensuring increased access to quality living spaces.

The government's commitment to enhancing social equity through improved housing supply means more options for buyers looking for homes near amenities like schools, parks, and public transportation. As new housing areas emerge, buyers will benefit from the revitalisation initiatives designed to form dynamic communities.

Moreover, these areas will appeal not just to first-time buyers but also to investors interested in rental properties, as the demand for affordable housing will likely create a steady stream of tenants. The combination of new developments and existing infrastructure ensures that these municipalities will become attractive residential hubs.

Prospective buyers should consider exploring these municipalities to discover their ideal home environments, whether in bustling cities or quaint suburbs. This government initiative heralds a new era of accessible housing, making the dream of home ownership more attainable than ever.

For buyers interested in this promising market, do not miss out on the chance to secure a home in one of these developing areas. Contact us today for a comprehensive overview of available properties!

Tuesday, 03 December 2024 - News
Which municipalities offer new housing areas for middle class buyers?

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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