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Porto com Sentido opens tender for 200 units in the "build to rent" modality

Porto com Sentido opens tender for 200 units in the "build to rent" modality
23 Nov 2021
A new tender is underway for lease promissory contracts, under the program Porto com Sentido, which aims to select 200 homes still in design, under construction or rehabilitation.

This initiative of Porto Vivo, SRU seeks to expand the supply in the affordable rental market and fits in the "build to rent" mode, in which the municipal company is betting.

The properties to be contracted, with one, two or three bedrooms and maximum proposed rents of 480 euros, 780 euros and 950 euros, respectively, will be rented for subsequent sublease under the affordable rental system. This step will take place from the moment the promissory lease contract is signed, which will happen when the works to be carried out in the properties are completed and the respective use permit has been issued.

The applications are now open for lease promissory contracts, with a submission period until May 2022, and will be weighted according to factors such as the proposed rent in €/per m2 of gross private area (40%), the relevance of the proposed intervention to the implementation of the municipality's urban rehabilitation and housing policies (30%), and the expected implementation period for the intervention after licensing (30%).

Proposals to enter into a lease agreement can be submitted through an electronic form available on the website of Porto Vivo, SRU. They may be submitted by owners, usufructuaries or superficiaries of existing properties to be subject to conservation/rehabilitation works, or by future owners, future usufructuaries or future superficiaries, if properties are still to be built. All the details of the procedure can be consulted at: https://arrendamentoacessivel.portovivosru.pt/pt/concurso-promotores

The municipal program Porto com Sentido promotes synergy with the private sector and was designed to boost the rental market in the city, introducing affordable housing aimed at a public with intermediate income. Launched in 2020 by the Municipality of Porto, it is under the management of the municipal company Porto Vivo, SRU, in its different branches.