According to the Municipality of Loulé, the public deed for the acquisition is scheduled for May 26 at the Town Hall and will be attended by the Secretary of State for Housing, Patrícia Gonçalves Costa.
The apartments, which are already built, include one, two and three-bedroom units located in the eastern part of Loulé, near the EB2,3 Padre João Coelho Cabanita school.
The investment forms part of the municipality’s Local Housing Strategy 2019–2032 and its collaboration agreement with the Institute for Housing and Urban Rehabilitation (IHRU) under the national “1.º Direito” housing programme.
According to the municipality, an application for European funding through Portugal’s Recovery and Resilience Plan (PRR) was submitted to support the operation, which represents an investment of €4.8 million.
With the acquisition of these 20 units, the Municipality of Loulé will have purchased a total of 80 homes in the city in recent months. Earlier this year, in February, the municipality acquired 60 housing units in the same development to strengthen the public housing stock.
According to municipal officials, the operation is part of a broader strategy to provide immediate housing solutions and address severe housing shortages in the region.