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land Market News: Spanish Real Estate Intelligence

Lagos City Council Buys Land for Affordable Housing
22 May 2019Richard D. K. Turner Lagos, in the Algarve, has some of the highest housing prices in Portugal and buyers are often foreigners looking for second homes. Elevated demand in the region has crowded out local middle-class families and young people. To respond to the situation, the Lagos City Council drew up an ambitious plan to acquire a plot of land from the CHESGAL Cooperative, where it will build about 100 new subsidised flats. According to an article in Idealista, the local municipal assembly recently approved the acquisition of plots of land totalling 9,280 square meters for more than 1.2 million euros. The three plots are all located in the parish of São Gonçalo. Original Story: Idealista Foto: Visual Hunt  
 
Ex-Margueira Shipyards Focus of Largest Real Estate Sale of the Century in Lisbon
15 May 2019Richard D. K. Turner According to an article in the Jornal Econômico, the Baía do Tejo, a subsidiary of the Portuguese state’s holding company Parpública, is to sell the land that once housed the former Margueira shipyards in the largest real estate transaction of the century in Lisbon. The 53-hectare property is slated for development into a project called Water City. It will include hotels, offices, shops, cultural venues and other services. Two other public tenders will auction rights to build and operate a marina and a riverboat terminal. The development is expected to take up to 15 years and involve an investment of anywhere from one to two billion euros. Original Story: Jornal Econômico - Nuno Miguel Silva and Rodolfo Alexandre Reis
 
Estamo to Sell 42,000 M2 Plot of Land in Lisbon
9 May 2019Richard D. K. Turner According to an article in Economia Online, Estamo, Portugal’s state-owned property company, has placed a plot of land in Olivais, in northern Lisbon, on sale for 34.9 million euros. Almost half (29,000 m2) of the larger area is slated for parks and green spaces, with a mixed-use development on the rest comprising residences, offices and facilities on the remaining 42,000 square meters. Plans for the site consist in the construction of three buildings, including a 30-floor, 135-meter tower with 550 parking spaces. The other two buildings would have five and two floors, respectively, with an additional 460 parking spots. Original Story: Economia Online