“Delivering 301 More Homes by Summer”
The President of the Regional Government, Miguel Albuquerque, recently inspected the housing complex project at Água de Pena in Machico, Madeira. This initiative falls under the Housing Recovery Program (PRR) for the Autonomous Region of Madeira. During his visit, he emphasized the crucial role of public investment in addressing housing needs.
Investment in Affordable Housing
Albuquerque highlighted the regional government’s commitment to creating affordable housing aimed at the middle class and youth. These projects, he noted, help alleviate pressure on the real estate market and promote social equity in housing access.
Housing Complex Details
- Location: Caminho do Cemitério, Machico
- Project Features:
- 24 housing units
- 12 T1 apartments
- 12 T2 apartments
- Parking spaces: 24
- Storage units: 24
- Area: Approximately 3,000 square meters
As part of the Investment and Reform Program (PIR), this project represents a total investment of €5.2 million. Albuquerque stated that to date, 507 housing units have been completed in various municipalities across Madeira.
Future Housing Deliveries
By summer, the regional government plans to deliver an additional 301 homes, bringing the total expected units to 808. Albuquerque reassured viewers that the government will continue to pursue new housing developments financed regionally, ensuring accessible housing options for Madeiran families.
Budget for Housing Initiatives
When asked about the budget allocated for housing, Albuquerque shared that the Regional Government has set aside €80 million for the next three years. This budget will support various policies, including assistance for cooperatives, supported rents, and housing recovery. These efforts aim to facilitate access to affordable housing for families in the region.
