New Housing Project in Loures: A €140 Million Boost for Housing Solutions
Portugal is grappling with a housing crisis, especially in the Lisbon area, where prices have surged, and availability is limited. In response to this challenge, a new housing project in Loures aims to bring affordable and sustainable housing solutions to the market. This €140 million project, backed by real estate developer AM48, will introduce 400 apartments in the Santo António dos Cavaleiros neighborhood, just outside Lisbon.
The new housing project in Loures is expected to alleviate the pressure on middle-class families looking for homes. As one of the most significant developments in recent years, it will play a pivotal role in addressing the housing shortage in the Lisbon metropolitan area.
Project Overview and Investment
The new housing project in Loures will be a mixed-use development spread over 80,000 square meters, with 90% dedicated to residential units and 10% to commercial spaces. The apartments will range from T1 to T4, catering to families of different sizes and budgets. Prices for these units will range between €280,000 and €700,000, offering middle-class families various housing options.
Each apartment will include private parking, a highly sought-after feature in urban areas. The new housing project in Loures aims to provide modern, well-equipped homes that balance affordability with comfort.
Revitalizing Loures: A New Beginning
One of the most exciting aspects of the new housing project in Loures is its focus on transforming a previously neglected area. The site, which was once an abandoned plot with incomplete infrastructure, will soon become a vibrant hub for both residents and businesses.
AM48’s CEO has emphasized that the project will bring “a new quality of life” to the area by introducing high-quality housing and boosting local commerce. In addition, the development will feature green spaces and sustainable architecture that will blend seamlessly with the natural surroundings. This focus on environmental harmony makes the new housing project in Loures stand out as a sustainable urban development.
Proximity to Essential Services
The new housing project in Loures has been strategically located near essential services, further enhancing its appeal. The development is just a five-minute walk from the future Violet Line metro station, which is part of Portugal’s Recovery and Resilience Plan (PRR). The completion of this metro line, scheduled for 2026, will improve connectivity to Lisbon, making it easier for residents to commute.
Additionally, the new housing project in Loures is close to the local health center and other amenities, making it a convenient place for families to live and thrive.
Commercial Spaces to Boost Local Economy
Besides providing much-needed housing, the new housing project in Loures will also contribute to the local economy. The ground floors of the residential buildings will house various commercial establishments, including a medium to large retail food outlet, a health club with gym and pool facilities, and smaller shops like a pharmacy, pet store, and stationery shop.
This mix of residential and commercial spaces will foster a strong sense of community. A new public square, complete with a playground, gardens, and seating areas, will offer a gathering space for residents and visitors alike, further enhancing the appeal of the new housing project in Loures.
Sustainable Architecture and Green Spaces
Sustainability is a core focus of the new housing project in Loures. The development will feature green areas with native trees and plants, creating a natural extension of the nearby municipal park. AM48 is committed to using sustainable materials and architectural designs that reduce the environmental impact while enhancing the quality of life for residents.
The new housing project in Loures sets a new standard for integrating nature with urban living, creating a harmonious space where residents can enjoy the benefits of green living without compromising modern comforts.
Timeline for Completion
Construction on the new housing project in Loures is expected to begin in early 2025, with the first two buildings available for sale in the first quarter of the same year. The entire project is scheduled for completion by 2030, providing housing for up to 1,500 people. This development will be one of the largest in Portugal in recent years and is crucial for alleviating the housing shortage, particularly for middle-income buyers.
Addressing Portugal’s Housing Crisis
The new housing project in Loures is more than just another real estate development; it is a strategic response to Portugal’s ongoing housing crisis. The Lisbon metropolitan area has seen housing prices skyrocket in recent years due to limited supply and foreign investment. Many middle-class families have been priced out of the market, struggling to find affordable homes.
By focusing on building outside the city center, the new housing project in Loures helps decentralize urban development, offering more affordable options for Portuguese families. Unlike many recent developments driven by foreign investors, this project is aimed squarely at the local market.
Conclusion: A Promising Future for Housing
As Portugal continues to face housing challenges, the new housing project in Loures represents a significant step forward. By introducing 400 new apartments and creating a thriving commercial and residential space, the project offers a sustainable, affordable solution for middle-class families. This development is set to reshape the housing landscape in Loures and set a benchmark for future projects in the Lisbon metropolitan area.
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