The 288 apartments initially planned for Quinta da Pinheira, a controlled-cost housing development (HCC) in Aradas, were converted into 320, to respond to the greater demand for T1 and T2 homes. Aristides Alferes, executive director of the company Encobarra, responsible for the investment of 70 million euros, assumed “difficulties” in marketing the 3-bedroom apartments in the new urbanization, several of which were transformed into apartments with fewer rooms.
The investor gave the example of Block 1, the most advanced and whose deeds should be signed in August or September. The 32 houses are all sold, but the T1s “were the first to be sold, followed by the T2s”. In Block 2, which will be completed in August 2025, 39 T3s remain to be sold, he added.
«Today, people almost don’t want T3», reinforced the mayor of Aveiro, Ribau Esteves, during a visit promoted yesterday morning by the construction company to the Quinta da Pinheira model floor.
In total, the project will put 320 homes on the market at controlled costs, divided into four lots. According to Aristides Alferes, it is the largest private HCC investment in Portugal. Construction began in March 2023, with an estimated 44 months of work. Block 1 is practically completed and 2, with 112 apartments, will be ready in August 2025. The company is currently starting the foundations of Block 4, still dependent on certification from the Institute of Housing and Urban Rehabilitation (IHRU) which allows you to access tax benefits, namely the reduced VAT of six percent. Block 3 will be the last to advance.
