The Institute of Housing and Urban Rehabilitation (IHRU) is looking for houses to buy in 43 boroughs in Portugal.
Twelve municipalities are in the Algarve: Albufeira, Castro Marim, Faro, Lagoa, Lagos, Loulé, Olhão, Portimão, Silves, Tavira, Vila do Bispo, and Vila Real de Santo António.
The goal is to target the housing crisis by renting out the purchased houses at accessible costs, the Minister of Infrastructure and Housing said in a statement.
Proposals can be presented by all property owners, whether individuals or companies and including real estate agencies, until Friday (February 11).
The government is seeking one to four-bedroom houses, costing no more than €213,000 for one-bedroom houses and €430,000 for four-bedroom houses.
IHRU is accepting new houses if they have been built longer than three months since the scheme was announced. Existing properties must be ready to be used and not require any rehabilitation or conservation works.
The list of boroughs that the State is seeking to purchase properties in is as follows: Alcochete, Espinho, Albufeira, Almada, Gondomar, Castro Marim, Amadora, Maia, Faro, Barreiro, Matosinhos, Lagoa (Algarve), Cascais, Paredes, Lagos, Lisboa, Porto, Loulé, Loures, Póvoa de Varzim, Olhão, Mafra, Santa Maria da Feira, Portimão, Moita, São João da Madeira, Silves, Montijo, Trofa, Tavira, Odivelas, Valongo, Vila do Bispo, Oeiras, Vila do Conde, Vila Real de Santo António, Palmela, Vila Nova de Gaia, Seixal, Sesimbra, Setúbal, Sintra and Vila Franca de Xira.
The full details can be found online at www.ihru.pt
