The Regional Government of the Azores extends its rental and social housing support to Pico

An institutional response to price pressure

Housing access support is being extended to Madalena, São Roque do Pico and Lajes do Pico.

What the announced support involves

It includes support for young tenants and incentives for owners of empty homes.

The question of the pressured housing zone

There is debate over whether Madalena should be declared a pressured housing market zone.

A plan being rolled out in phases

The rollout is planned to begin with the areas facing the greatest price pressure.

A programme reaching all three of the island's concelhos

The support announced by the Regional Government of the Azores reaches Madalena, São Roque do Pico and Lajes do Pico, the island's three municipalities. Until now, this kind of assistance had been concentrated mainly in Ponta Delgada and other high-pressure property areas of São Miguel. The extension to Pico responds, according to the regional executive, to the recent rise in prices on the island.

Support for tenants and for owners of empty homes

The package of measures includes direct assistance for young tenants as well as tax incentives for owners who decide to bring currently empty homes onto the market. The regional administration hopes this combination will increase the available rental supply without the need for new construction. The island's town councils will handle much of the processing of applications.

The debate over declaring Madalena a pressured zone

Some municipal representatives are calling for the authorities to go further and declare Madalena a pressured housing market zone, which would allow for additional price-containment measures. The regional government is treading cautiously on this possibility, preferring to first assess the effect of the support already announced. The island's property sector opposes such a declaration, fearing it would deter investment.

A phased rollout

The plan will be launched starting with the areas under the greatest price pressure, mainly Madalena, before being extended to the rest of the island. The regional housing secretariat expects a first assessment of results before the end of next year. Residents and local associations will be watching this initial phase closely to judge whether the measures prove sufficient.