The European Investment Bank (EIB) has approved a 300-million-euro loan to Portugal to fund the construction of affordable housing. This funding is intended to increase the supply of housing units available at accessible price points.
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The Porto City Council has collected 33 million euros in financial compensation from developers who opted not to build mandatory affordable housing units under the municipal inclusive zoning regulations since 2021. Following public and political backlash regarding recent approvals for seven specific projects to pay into the fund instead of building, the Mayor announced plans to revise the municipal regulations to remove the compensation option for hotel and tourism projects.
The 2027 State Budget passed its viability vote without surprises, with housing emerging as a central theme during the debate. The PSD called on the opposition not to distort the document.
The City Council approved a proposal to expand the city's Urban Rehabilitation Area (ARU), set to take effect on 1 January 2027. Properties within the ARU qualify for tax benefits, including a 6% reduced VAT rate on renovation works and exemptions from IMI (municipal property tax) and IMT (property transfer tax).