Cheaper housing options for Lisbon residents
Affordable Housing Units Delivered in Lisbon's Vale Formoso de Cima
Lisbon, Portugal - Lisbon Mayor Carlos Moedas handed over the keys to 50 homes to families today, marking the completion of a €9.3 million affordable housing project in the Vale Formoso de Cima area. The new housing blocks consist of 50 units, including one-, two-, and three-bedroom apartments.
This project is part of a broader municipal initiative aimed at expanding affordable housing options in Lisbon. Alongside the 50-unit development, another ongoing affordable housing project is under construction in the same area, which will add 105 units to the housing stock.
The investment for the 50-unit project was co-financed through the Recovery and Resilience Plan (RRP). During the handover ceremony, Mayor Moedas highlighted the social impact of the project, stating, "This is your home, this is your right." He also emphasized that during his current term, 2,744 keys have been handed over in the housing sector.
The Minister of Infrastructure and Housing, Miguel Pinto Luz, acknowledged the housing problem is not limited to specific cities and that the current efforts are only solving a small part of it. He did not provide details on the national housing project's timeline or investment.
Mayor Moedas also expressed his intention to increase Lisbon's municipal housing percentage, which currently stands at 12%. However, he did not provide details on the strategies or plans to achieve this goal.
The minister indicated that housing prices are not expected to change significantly in the near future. This affordable housing project is scheduled for construction in 2023, with another ongoing project expected to be completed soon.
The housing units are part of two new housing blocks in the Vale Formoso de Cima area of the parish of Marvila. The minister did not mention any co-financing sources for the national housing project, and the mayor did not provide an update on the ongoing construction of the affordable housing project with 105 units in the Vale Formoso de Cima area.
Handing over a key is changing a life, it's changing a family," said Mayor Moedas, expressing the impact of the project on the local community. The delivery of these 50 units represents a significant step towards addressing Lisbon's affordable housing needs and improving the lives of many families in the city.
[1] Source: Lisbon City Council press release, Link [2] Source: Recovery and Resilience Plan (RRP) information, Link
- The affordable housing project in Lisbon's Vale Formoso de Cima, which includes 50 homes, is a part of the city's strategic initiative to improve personal-finance opportunities for its residents through investing in housing-market solutions like home-and-garden development.
- The delivery of 50 affordable housing units in Lisbon not only contributes to the municipal housing percentage but also aligns with the minister's goal of stabilizing the housing-market prices in the real-estate sector.
- With the ongoing and upcoming affordable housing projects in Lisbon, residents can look forward to expanding investment opportunities in the lifestyle domain, enhancing their financial management, and securing a better future for their families.
