A year after taking office – to April 6, 2015 – The mayor of Lisbon, Fernando Medina, apesentou Wednesday the affordable rents program for the city, which was also one of its big promises when he replaced Mr Costa in the municipality leadership.
the program will be primarily aimed at young people, but will also be allotted a share of fires for older people and that needs to readjust its housing needs. The condition is that they do not own any property in the city.
Medina wants to attract younger people to the city center, which has been depopulating substantially since the early 80. Hence the affordable rents he explained at a press conference called to present the program. The recipients must have incomes between 7,500 and 40,000 euros per year
The idea is that the local authority makes available land and buildings in need of rehabilitation and which are private to do the work. In return, says Medina, will have an investment “safe and low risk” for a period of concession that will have an average duration of 35 years. After this time, the property will revert back to the municipality.
The rents are fixed at the start and will be below the market value and the minimum wage as the mayor had promised. The idea is that a T0 pay 250 euros compared with an average price of the private market in the city center of around 550 euros. For a T1 average will be 350 euros (800 in the private market on average) and T2 have an income of 450 (against 900 it costs on average in private, according to the authority’s accounts).
first public tenders for the award of the works will be on the ground this year, ensures Medina. And then the idea is that the works move forward as soon as possible
One thing is certain. “This project is only possible with the participation of the private sector,” said the mayor, “Investment is needed private for construction “and therefore” will depend on them the answer, “but” we are convinced that we have an appealing product for various types of investor. at the head of investment funds, which seek a more stable investment, lower risk, who can have here a good compensation for a reduced risk, “said Medina.
The lines of the new program
Recipients
Especially young people, although it is expected a slice of fires for the elderly who need to readjust or resize your housing needs. They should have an income between 7,500 and 40,000 euros per year.
Values of rent
The income can not exceed 30% of the gross income of the household. There are average values established at the outset: T0 – 250 euros (average price of the private market is 550); T1 – 350 euros (800 average private market); T2 – 450 (900 on the average private market). The local authority’s accounts, these figures will be 30% to 40% below market values, which stressed Fernando Medina, “are much higher than households with this income can afford.”
Location of the property
will be located almost everywhere in the city, in some cases rehabilitation of degraded properties, other new construction. In all 15 areas: Av Marechal Teixeira Rebelo (close to Colombo);. Rua de São Lázaro; Palace of the Queen; Street Santa Barbara; Rua Gomes Freire; Av Marechal F. Costa Gomes.; San Antonio Valley; Portcullis (in the embassy land); High Help; Bairro das Laranjeiras; Quinta Marques de Abrantes; marvila; Bairro das Furnas; Neighborhood of the Flemish; County neighborhood. a total area of 615,000 m2, of which 77,000 for trade and services and 520,000 for housing will be covered.
Paper Camera
The local authority carries out the works necessary urbanization, ensures the equipment, sets quality standards for construction, chooses dealers who will do the work and then selects the families eligible for leases. Medina also undertakes to ensure “financial risk mitigation instruments”, including through income insurance in case of default by tenants. At the end of the concession the Camera “takes ownership of a significant part of the heritage.” For now, the estimated value of the city council assets to be allocated to the program will be 270 million euros.
Role of dealers
If the camera enters the ground, private investors enter with the values of works and construction and rehabilitation. During the concession period, which should last an average of 35 years will be dealers to receive rents and doing maintenance. If this is necessary, also says the mayor of Lisbon, some homeowners may be intended for sale or put to normal market rents. In the end, the others will be returned “in good condition” to the municipality. In the case of buildings to rehabilitate that currently living people, there will be a re-housing in the vicinity or in its own properties, said Medina. The investment estimated for private construction works amounts to 680 million euros.
When the first houses will be available
Medina does not commit to dates, but It said that the idea is to have made “the first concession tenders by the end of this year.” Then the idea is that the works take place quickly, but always fulfilling the quality criteria that the camera will stipulate. Only later will be opened tenders for potential tenants apply.
(updated news at 13:00 with more information about the program)
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