Porto City Council is moving forward with what will be the municipality’s second build-to-rent project under a public-private partnership. This time, the council led by Pedro Duarte has joined forces with Sonae Sierra and Solive to build affordable rental homes in Campanhã.
It is already being described as the largest affordable rental project in the country.
The city council announced in a statement that on Thursday, 18 June, the Mayor of Porto signed the promissory lease agreement for the project, named Cartes Living, together with developers.
This new affordable rental housing project in Porto will include a total of 331 homes (from studio to three-bedroom apartments) spread across two floors, as well as 6,000 square metres of green space.
Management of these new affordable rental homes in Campanhã will be handled by the municipality through the company Porto Vivo.
Rents will fall within the limits established by the Porto com Sentido programme.
According to the statement, monthly rents are expected to range from €536.76 for a studio apartment to €971.28 for a three-bedroom apartment, based on the 2026 rates, which are subject to annual updates stipulated by law.
“This is the second large-scale project announced by the municipality, through Porto Vivo, SRU, as part of its strategy to promote affordable housing in collaboration with the private sector, reinforcing a partnership model that has been regarded as a benchmark in the sector,” the Porto city council stated in the document.
The first build-to-rent project aimed at affordable housing is called Jardins do Oriente and results from a partnership between the Porto municipality and the Ageas group.
Also located in Campanhã, this development will include 124 affordable rental homes for families, as well as 27 units for sale on the open market. These homes (from studios to three-bedroom apartments) are expected to be completed within two years, with rents ranging between €525 and €950 per month.
Stay in the know about living in Portugal—get our weekly newsletter for the latest travel, legal, and lifestyle news.
