Azores with 362 new housing solutions under implementation - Communication

Secretaria Regional da Juventude, Habitação e Emprego

362 new housing solutions are currently being implemented in the Azores, representing an investment of over 43.6 million Euros financed under the Recovery and Resilience Plan (RRP) for the Region.

This investment will increase the supply of public housing for different situations and age groups, including young people, middle-class and single-parent families, not forgetting the most disadvantaged households facing serious housing shortages.

Faced with the national and European challenge that is also being experienced in the regional housing market, namely in the acquisition and construction of housing or rental properties, the Government is implementing with determination, rigour and responsibility what is the largest investment ever made in public housing in the Azores.

Between 2012 and 2020, only 71 houses were built, which is less than one house per year and per island.

The continuous underinvestment in housing during those years has led to a supply deficit in the Region. It will now be remedied by the investment being made in new housing solutions, such as construction, renovation, and plot servicing.

This is the case of the São Pedro neighbourhood, in the parish of Maia, municipality of Ribeira Grande, São Miguel Island, where the construction of six two-bedroom and six three-bedroom apartments is progressing, as confirmed this week by the Regional Secretary for Youth, Housing and Employment, Maria João Carreiro, "in an example that is multiplying in different municipalities and islands."

The works contract for the São Pedro neighbourhood was awarded in October 2024 to the company Marques, S.A. for 2.3 million Euros, financed under the RRP, and is expected to be completed in early 2026.

In addition to the construction, renovation and servicing of plots for transfer, the Regional Secretariat for Youth, Housing and Employment, through the Regional Directorate for Housing, is investing in adapting support measures for construction, renovation and rental to the current context, namely the increase in lease and construction material costs.

A 20% increase in lease incentives, as well as changes to the calculation formulas and income brackets for eligibility for self-build support on serviced plots provided by the Region, are some of the measures promoted by the PSD/CDS/PPM coalition to reduce the financial burden on families seeking access to housing.

This year, the Azorean Government regulated the new lease with purchase option scheme so that Azoreans can benefit from new, modern and efficient housing solutions at prices compatible with their incomes. The purchase option can only be exercised by the tenant one year after signing the lease agreement.