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Loulé City Council and IHRU Team Up to Provide Affordable Housing

28 October 2020 – Loulé City Council is looking to provide access to housing for 1,400 households by 2030 by building new homes and renovating existing structures, through an agreement between the municipality and Housing and Urban Rehabilitation Institute (IHRU).

During a presentation of the local housing strategy for 2019 – 2030, Loulé’s mayor, Vítor Aleixo, stated that several projects to increase access to housing were underway, including the construction of affordable housing, subsidies and rental payment supports.

The IHRU and the Loulé City Council plans to invest a total of €43.7 million, with the former contributing €15.4 million, a subsidised loan of €25.5 million, and the remaining €2.7 million financed by the municipality.

Original Story: Diário Imobiliário

Translation/Summary: Richard D. Turner