According to idealista news, the Regional Government Council authorised on Thursday (30 November, 2023) the conclusion of a program contract with the public company Investimentos Habitacionais da Madeira (IHM) for the acquisition of land intended for affordable housing, for a maximum amount of 480,000 euros.

In a note sent to newsrooms with the conclusions of the meeting, the island executive (PSD/CDS-PP) indicates that the program contract aims at "financial participation with the acquisition of land, to be transferred to promoters, intended for the construction of housing projects economic".

Subsequently, the houses are allocated at affordable prices, "adjusted to the effort rate of the middle class and young people at the beginning of their professional lives, within the scope of the incentive program for the promotion of economic housing called Casa Própria.”

The financial contribution to be granted to IHM will not exceed the maximum global amount of 480,000 euros, as stated in the note.

In Thursday's meeting, the Government Council also decided to acquire a private plot of land necessary for a road project that will connect the Amparo area to the new hospital in the region, without indicating the value of the investment.