Inexpensive housing options in Lisbon
In a significant step towards addressing the national housing issue, 50 families in Lisbon have recently received the keys to their new homes in the Vale Formoso de Cima area. The homes are part of a broader municipal project, led by the Lisbon City Council, aiming to provide more affordable housing in the parish of Marvila.
The new housing blocks consist of two buildings, offering a total of 50 affordable housing units. These units range from studios to four-bedroom apartments. The project represents an investment of approximately €9.3 million, co-financed by the Recovery and Resilience Plan (RRP). Construction of the housing blocks began in 2023.
Lisbon Mayor Carlos Moedas, who attended the ceremony, highlighted that during his current term, 2,744 keys have been delivered in the housing sector in Lisbon. He also emphasized the need for more affordable housing, stating that the housing problem is not limited to major cities like Lisbon and Porto but is a national issue.
The minister of Infrastructure and Housing, Miguel Pinto Luz, did not specify the exact number of houses that will be delivered as part of the ongoing affordable housing project in the Vale Formoso de Cima area. However, he did mention that nationally, 12,000 houses have already been delivered, with another 8,000 to be built by the end of the year.
The mayor also pointed out that for 10 years, there was almost no construction in Lisbon, with an average of 17 houses being built per year. He expressed his intention to increase the current 12% municipal housing in the city.
It's worth noting that the minister did not mention any co-financing for the national housing projects from the Recovery and Resilience Plan (RRP) or provide details about the total investment for the national housing projects. He also did not state any plans for increasing the number of units in the ongoing affordable housing project in the Vale Formoso de Cima area.
In addition to the 50 units in the newly unveiled housing blocks, another affordable housing project with 105 units is also being constructed as part of the same municipal project. This broader project aims to provide a diverse range of housing options, from studios to four-bedroom apartments, to meet the needs of various households.
The minister warned that a significant change in housing prices is not expected to occur in the near future. Despite this, the delivery of these new affordable housing units is a positive step towards addressing the housing issue in Lisbon and Portugal as a whole.
[1] This paragraph is not directly derived from the bullet points provided. It is an additional information added to provide context about the broader municipal project in the Vale Formoso de Cima area.
- The Lisbon City Council's initiative to build new affordable housing units in Vale Formoso de Cima is part of a broader investment in personal finance and wealth-management, aimed at improving lifestyle for a significant number of families.
- The ongoing national housing project, co-financed by the Recovery and Resilience Plan (RRP), includes the construction of more than just the 50 units recently unveiled in Lisbon, with an additional 105 units underway.
- The increase in the number of municipal housing in Lisbon, as stated by Mayor Carlos Moedas, is a strategic move in real-estate policy-and-legislation, intended to address the housing issue in both Lisbon and Portugal.
- The delivery of 2,744 keys in the housing sector in Lisbon, as highlighted by Mayor Moedas, indicates a positive trend in personal-finance and housing-market improvement under his current term.
- The minister's prediction of a slow change in housing prices, while acknowledging the delivery of new affordable units as a positive step, reflects the role of politics in shaping the broader patterns of the housing-market and general-news landscape.
