22 May 2019 – Richard 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