The Portuguese government wants to create a pool of 18,660 houses, foreseeing a direct investment by the State of around 1,700 million euros.
The Portuguese Government has revealed that it wants to create a pool with currently vacant (or available) properties across the country, that will be turned into affordable rental housing. The properties will be selected by the Housing and Urban Rehabilitation Institute (IHRU), and the list includes palaces, old convents, villas, land, farms, apartments and apartment blocks. The investment will reach 2,300 million euros.
According to the news published by the Portuguese newspaper Público, 18,660 properties have already been identified, of which at least 20% should be transferred to municipalities or handed over to public-community partnerships. This property pool foresees direct investment by the State of around 1,700 million euros, to which another 600 million will be added from municipalities or other entities. It will be up to the IHRU to sort the properties.
The legislation, which comes after Lisbon announced its own plans for more homes for rent at affordable prices, is being prepared and awaits approval in the Council of Ministers, but could be voted on as soon as this week, according to the publication.