Learn how to apply for incentives for Revitalization in the Algarve.

If you are thinking of dedicating yourself to the rehabilitation of property the information we have compiled may be useful to inform you about the incentives you can apply for to make an urban rehabilitation.

REDE REAL estate has properties in the ideal conditions for URBAN REHABILITATION IN THE ALGARVE, consult here.

The IFRRU 2020 is a financial instrument aimed at supporting investments in urban rehabilitation, which covers the entire national territory and includes the Algarve.

To further boost investment, the IFRRU 2020 brings together various sources of funding, both European funds from the PORTUGAL 2020, funds from other entities such as the European Investment Bank and the Council of Europe Development Bank, combined with funds from commercial banks.

See the FAQ on Urban Rehabilitation in the Algarve

WHO CAN APPLY?
Any individual or collective, public or private entity, with sufficient powers to carry out the intervention, can apply.

WHAT SUPPORT IS AVAILABLE?
The support is granted through two types of financial products (non-cumulative):

Loans - granted by the banks selected for managing IFRRU 2020 support, with maturities of up to 20 years, grace periods equivalent to the investment period + 6 months (max. 4 years) and interest rates below those practised in the market for investments in works.

Guarantees - associated with loans granted by the same banks, aimed at projects that do not have sufficient guarantee. The projects may also be granted tax benefits already established by law, inherent to their location and the nature of the intervention, namely at the level of IMI, IMT and VAT.

WHICH INTERVENTIONS ARE SUPPORTED?
Full rehabilitation of buildings that are 30 years old or more (or, in the case of buildings that are less old, that demonstrate a conservation level equal to or less than 2, under the terms of Decree Law no. 266-B/2012, of 31 December)

Rehabilitation of abandoned industrial spaces and units;
Interventions in social housing buildings that are the target of integral rehabilitation.
In the same funding request, IFRRU 2020 supports energy efficiency measures complementary to urban rehabilitation interventions.

The rehabilitated buildings can be intended for any use, namely housing, economic activities and equipment for collective use.

WHAT EXPENSES ARE FINANCED?

All the expenses related to the urban rehabilitation work and to the energy efficiency measures

IN WHICH TERRITORIES?
The buildings to be rehabilitated have to 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 Disadvantaged Communities (PAICD)

HOW DO I MAKE AN APPLICATION?
The application is made in 3 steps for the preparation of the financing request:
Request for a framework opinion from the Municipality of the location of the property;
Energy Certificate of the property before the intervention elaborated by an expert qualified by ADENE
Request for financing from the selected banks