IHRU to Acquire Homes in Lisbon, Porto and Algarve

The IHRU’s market consultation for acquiring the real estate ends this Friday,  February 11.

According to a statement on the Portuguese Republic’s official website, the Institute of Housing and Urban Rehabilitation’s (IHRU) strategy is to expand the supply of affordable public housing and ensure access to housing for families with middle incomes.

The market consultation ends on February 11. The properties, residential buildings and flats, must meet the requirements and conditions set out in the announcement. In the municipalities of the metropolitan areas of Lisbon and Porto and the Algarve region, the location is one of the conditions.

Among the criteria are maximum figures per various sized flats. A one-bedroom apartment should have a maximum value of 213,000 euros, while a two-bedroom apartment can reach 295,000 euros. A three-bedroom apartment may cost up to 373,000 euros, and a four-bedroom apartment 430,000 euros.

The announcement also states that proposals may be submitted by any natural or legal person that owns the properties that are the subject of the proposal, as well as duly licensed real estate agencies.