The Portuguese government will provide €1.4bn to fund the modernization of the country’s housing stock through the Financial Stability Fund Social Security (FEFSS). The move was announced by Prime Minister António Costa said that energy efficiency improvements would be the focus of the investments, as the government wants to reduce energy costs for the people who live in the buildings. It’s part of the country’s strategy to stimulate rental housing at affordable prices, because at the moment, said Costa, “a significant portion of the population today is excluded from the housing market for financial reasons”.
Antonio Costa said that the government will expand the sources of social security funding for such projects in an effort to help make rental and living costs more affordable for tenants at a rate that was profitable, but below standard market rates.
