First Right Program to Provide for 8,000 Homes

17 April 2018

The Cabinet of Ministers will shortly present the draft law of the First Right program, part of the New Generation of Housing Policies.

The program will provide for the procurement of 8,000 homes and will include financing for renovations or construction and other support for the neediest groups, such as single-parent families and the elderly. People who live in subpar conditions and who do not have the financial capacity to find a house on the market will be able to apply for these supports. Examples of the available supports include subsidised loans for purchasing, building or renovating a property. The subsidies are available to single-parent families, senior citizens and the disabled whose rental contracts were not renewed, who are homeless or who have no alternative housing after an eviction, as well as those who live in subpar conditions due to a lack of structural safety or overcrowding.

The applications will be intermediated by the local authorities and may be done individually or through residential associations, among others. By 2020, the Portuguese government expects to have delivered 8,000 financed homes “in the social interest,” according to Público.

This number will not, however, be sufficient, given that, according to the National Housing Needs Survey, close to 26,000 families are experiencing housing shortages, requiring an estimated total investment of 1.7 billion euros.

Original Story: Vida Imobiliária – Ana Tavares

Translation: Richard Turner