Successful applicants in the first-phase applications to rent a flat in the government’s high-rise residential building for senior citizens on Plot P in Areia Preta district, which will start on November 6, will be offered a 20-percent discount on their rent, according to government announcements this week.
A lease will be valid for three years. The three-year lease will be “automatically” renewed upon mutual agreement every time.
Because of the 20-percent discount, the lowest rent for a flat will be 4,328 patacas per month.
Construction of the rental housing estate for seniors is now scheduled to be completed in January next year. The estate will have a total of 1,815 studio-style units.
The first-phase application process will cover 759 flats.
The government announced the estate’s rental fees in an executive order published in the Official Gazette (BO) on Monday, according to which the monthly rent for flats between the 4th and 21st floors will be 5,410 patacas, 5,730 patacas, 6,050 patacas and 6,370 patacas, depending on their direction, while the rent for flats between the 22nd and 37th floors will be 5,670 patacas, 6,010 patacas, 6,300 patacas and 6,680 patacas, depending on their cardinal direction.
However, according to the executive order, the renters of the first 759 flats in the estate will be given a 20-percent discount during their first three-year lease.
Consequently, without the discount, renting a flat there will cost between 5,410 patacas and 6,680 patacas per month, while with the 20-percent discount the rent will range between 4,328 patacas and 5,344 patacas a month.
This photo taken yesterday shows the almost-completed rental housing estate for seniors on Plot P in Areia Preta district. – Photo: Tony Wong
