Almada Candidate's Plan: Triple Construction, Slash IMI Property Tax
In a bold proposal aimed at shaking up the local real estate market, Almada mayoral candidate Carlos Alves (Liberal Initiative) has pledged to triple housing construction and cut the municipal property tax (IMI). For foreign investors, this pro-development stance could signal a significant shift in one of the Lisbon Metropolitan Area's most important municipalities.
What Foreign Investors Need to KnowAlves's core strategy is to attack the housing shortage by boosting supply. 'If we want to lower housing prices... it's with more construction,' he stated, directly addressing the core issue of supply and demand. He heavily criticized the current two-year waiting period for building permits, promising to streamline the process. A financial analyst might note that 'reducing bureaucratic delays and property taxes could significantly improve the ROI for new development projects in Almada.' The plan also includes a full survey of public assets to convert abandoned buildings into viable housing.
Actionable Steps for Today's Buyer- Monitor Political Developments: A potential shift to a pro-business local government in Almada could create a more favorable investment climate.
- Identify Tax Incentives: The proposed reduction of IMI to the 'legal minimum' and potential exemptions for homeowners in the city center would directly increase net rental yields and reduce holding costs for investors.
- Explore Development Opportunities: A commitment to 'double or triple' construction could open up new opportunities for land acquisition and development partnerships.
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