The Affordable Income programme, promoted by Investimentos Habitacionais da Madeira, was presented today by the Regional Secretary for Equipment and Infrastructure, João Pedro Sousa. The measure aims to respond to the housing needs of middle-class families and young households, as well as young people living alone.
By 2026, 800 new homes will be built, and by the end of this year, a variety of housing projects will be completed to meet the shortages.
Today’s press conference aimed to inform interested parties that they can now register. Applications for the Affordable Income programme open from tomorrow the 1st of August and run until the 15th of October, through the IHM online platform at www.ihm.pt/online.
The Regional Secretary and the President of IHM explained that between the end of the year and the first half of 2024, 180 homes will be completed, which will be delivered by the end of the first half of 2024. A further 420 apartments should also be available by the end of the year.
João Pedro Sousa assured that under this programme “all families will pay a reasonable rent,” the value of which cannot exceed 35% of gross monthly income. The Regional Secretary also pointed out that it is possible for the tenant to buy their rental property after six years and the amount already paid in rent will be deducted from the purchase price.
When registering you will be asked for certain documents such as a copy of your citizen’s card, IRS settlement note, last three salary receipts, and a statement from the land registry.
The site also allows all those interested to work out their monthly costs.
Samantha Gannon
info at madeira-weekly.com
