KAUF VON IMMOBILIEN FÜR STADTSANIERUNG IN PORTUGAL
URBAN REHABILITATION IN PORTUGAL Learn how to apply for incentives for Revitalization in the Algarve
If you are thinking of doing real estate rehabilitation, the information we have compiled can be useful o inform you about the incentives you may require to do an urban rehabilitation.
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IFRRU 2020 is a financial instrument to support investments in urban rehabilitation, covering the entire national territory and the Algarve.
To further boost investment, IFRRU 2020 brings together various sources of funding, both European funds from PORTUGAL 2020 and funds from other entities such as the European Investment Bank and the Council of Europe Development Bank, combining them with commercial banking.
Usual Questions and Answers on Urban Rehabilitation in the Algarve
WHO CAN APPLY?
You can apply for any entity, singular or collective, public or private, with a title enough to empower you to carry out the intervention.
WHAT SUPPORT IS AVAILABLE?
Support is provided through financial products of two types (not cumulative):
Loans - granted by banks selected to manage IFRRU 2020, with maturities of up to 20 years, grace periods equivalent to the investment period + 6 months (up to 4 years), and interest rates below those prevailing on the market for investments in works.
Guarantees - associated with loans granted by the same banks, for projects that do not have sufficient collateral. Projects can also be granted tax benefits already inherent in the law, inherent to its location and nature of the intervention, namely at the level of IMI, IMT and VAT.
Rehabilitation of abandoned spaces and industrial units Interventions in social housing buildings subject to full rehabilitation
In the same funding request, IFRRU 2020 supports energy efficiency measures complementary to urban rehabilitation interventions. The rehabilitated buildings can be used for any use, namely housing, economic activities and equipment for collective use.
WHAT EXPENSES ARE FINANCED?
All expenditure relating to urban rehabilitation work and energy efficiency measures
IN WHICH TERRITORIES?
The buildings to be rehabilitated must be located in an area delimited by the Municipality: Urban Rehabilitation Area (ARU) / Urban Regeneration Action Plan (PARU).
If the operation is inserted in a social housing building: it must be located in the area delimited by the Municipality in the Integrated Action Plan for the Disadvantaged Communities (PAICD)
HOW DO I APPLY?
The application is made in 3 steps to prepare the financing request: 1.Request for opinion of framing to the City Council of the location of the property 2.Energy Certificate of the property before the intervention prepared by expert qualified by ADENE 3.Request for funding from selected banks