Government 'ready' to take steps to provide more affordable housing

in News · 04-10-2018 19:41:00 · 0 Comments
Government 'ready' to take steps to provide more affordable housing

Portugal’s government is “perfectly ready” to introduce new measures aimed at increasing the number of homes available at affordable prices, the secretary of state for housing said on Thursday, adding that she expects the measures to be included in the 2019 state budget.

The government “continues to be fully committed to its own proposals” for new housing legislation, which is currently being debated in parliament, Ana Pinho told journalists during a break from an event in Lisbon on local housing strategies.

Pinho said that the proposed change “establishes new measures aimed at correcting situations of imbalance for landlords and tenants, reinforcing the safety and stability of urban rentals and protecting tenants in especially fragile situations.”

Regarding the measures’ impact on the state budget, Pinho said estimates had already been submitted by the secretary of state for fiscal affairs, but did not offer any specific figures.

The legislative package for housing now being discussed is expected to foresee a special tax scheme for homes rented under the country’s affordable housing scheme, lower rates of value-added tax for long-term housing contracts and more security for vulnerable tenants - among other measures.

House prices and rents have been rising steeply in recent months, particularly in Lisbon and Porto, in part because of strong demand from foreign buyers.


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