Funchal approves €40m housing strategy and fifth budget amendment
Madeira GuideThe revised 2026-2029 Local Housing Strategy envisages about 300 homes and is intended to support applications for European funding.
Funchal's municipal executive approved its fifth budget amendment and the revised Local Housing Strategy for 2026-2029 at a council meeting on Thursday.
Jorge Carvalho said the budget amendment follows the approval of several applications for community funds. He said the funding will bring more public investment to the city and, in some cases, amounts to millions of euros that will release municipal money for other investments or activities.
Carvalho said the updated housing strategy is needed for Funchal to apply for European or community funding for new housing projects. About €40 million in housing investment is planned, with the executive aiming to reach about 300 homes by the end of its term.
According to Diário de Notícias Madeira, the planned investment includes 23 homes already under construction in Bairro da Ponte and works at Quinta das Freiras covering 71 homes. Carvalho said the strategy includes measures to increase housing supply through new construction and the recovery of existing buildings.
This follows a previous report that the Regional Government expected 12 more housing developments by October: Regional Government expects 12 more housing developments by October.
Update — 2026-09-18
The Funchal executive also accepted a recommendation submitted by the PS, saying the municipality was already working on the matter.
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Madeira Guide
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