Funchal advances affordable housing through land preservation and cooperative bids

The Madeira Regional Government is implementing measures to promote and safeguard land for affordable public housing in Funchal.

In the Caminho dos Saltos area of the Imaculado Coração de Maria parish, two cooperatives have submitted proposals to develop a housing complex on approximately 5,580 square meters of land. The project, managed by IHM – Investimentos Habitacionais da Madeira, focuses on controlled-cost housing. Under the terms, the selected cooperative will receive surface rights for 50 years, with the eventual transfer of land ownership. In return, the cooperative must transfer at least one housing unit, including parking and storage, to IHM, with a value of no less than 20% of the land's €1,122,000 valuation. These units are strictly for permanent residence for 25 years, prohibiting commercial use or local lodging.

Additionally, the Regional Government has issued a regulatory decree to protect a 29,000 square meter area in the Amparo site, located in the São Martinho parish. This preventive measure, which will remain in effect for two years, requires prior authorization for various interventions to ensure the land remains available for future controlled-cost housing developments.