Loulé Acquires 20 New Homes
In a significant move to address local accommodation needs, the Municipality of Loulé is set to acquire 20 new residential properties.
On Tuesday, 26 May, at 11:00 am, the public deed for this acquisition will be signed in the Main Hall of the Town Hall (Salão Nobre dos Paços do Concelho). The ceremony will be presided over by the Secretary of State for Housing, Patrícia Gonçalves Costa.
About the Properties
The newly acquired properties are already built and include one, two, and three-bedroom apartments (T1, T2, and T3). They are conveniently located in the eastern part of Loulé, close to the EB2,3 Padre João Coelho Cabanita school.
A Strategic Investment
This 4.8 million-euro investment represents a proactive approach to providing immediate housing solutions and ensuring decent living conditions for the population. It is integrated into the Loulé Municipality’s Local Housing Strategy for 2019-2032 and falls under the 1º Direito Programme, an agreement made with the Institute of Housing and Urban Rehabilitation (IHRU). To finance the operation, the local council has applied for European support via the Recovery and Resilience Plan (PRR).
A Broader Commitment
With this latest purchase, Loulé has now acquired a total of 80 homes within the city in just the last few months. Readers may recall that in February, the municipality secured 60 properties in the very same urbanisation to bolster its public housing stock.
This ongoing operation is a vital measure to combat severe housing shortages affecting the Algarve region and the country as a whole, highlighting it as a top priority for Loulé’s municipal executive in the years ahead.
