Lisbon City Council has proposed a €1.463 billion budget for 2027, an 8.8% increase led by Mayor Carlos Moedas's administration that places housing as its primary investment priority. The executive plans to spend €167 million on housing and urban rehabilitation, which includes leasing municipal land to private developers and cooperatives to build affordable homes. The budget also outlines a €291 million bank loan through 2029 and a €62 million investment to purchase 140 electric buses for Carris.
Lisbon Unveils €1.46 Billion 2027 Budget Prioritizing Housing
Friday, 13 November 2026AI summary
Context & Explainers
Carlos Manuel Félix Moedas (born August 10, 1970, in Beja) is a civil engineer, economist, and center-right politician who has served as Mayor of Lisbon since October 2021. He earned degrees in civil engineering from Instituto Superior Técnico and an MBA from Harvard, working at Goldman Sachs and founding his own investment firm before entering politics. During Portugal's 2011-14 bailout, he served as Secretary of State coordinating Troika-mandated structural reforms. From 2014-19, he was European Commissioner for Research, Science and Innovation, managing €77 billion in research funding and designing the €100 billion Horizon Europe program. Moedas narrowly won Lisbon's mayoralty in 2021 with 34.3%, defeating Socialist incumbent Fernando Medina. Governing initially with a minority coalition, he implemented free public transport for youth and elderly residents, launched the "Unicorn Factory Lisboa" innovation hub attracting 82 tech companies and 16,000 jobs, and won Lisbon the 2023 European Capital of Innovation award. He was re-elected in October 2025 with 41.7%, securing eight of nine council seats. His significance lies in shifting Lisbon's political trajectory rightward after decades of Socialist governance, positioning the capital as a European tech hub while prioritizing housing development, carbon neutrality by 2030, and innovation-driven economic growth.
Carris is the public transport company responsible for operating buses and trams in Lisbon. It is a state-owned entity that serves as the primary provider of surface public transit within the city limits.
8 sources
- Lisbon City Council promises to lease land to private entities and cooperatives for housing and will take out a 290 million loanexpresso.pt ·
- Porto wants to rehabilitate 13 red phone booths scattered across the citypublico.pt ·
- Lisbon City Council allocates 167 million euros for housing and urban planning in 2027cnnportugal.iol.pt ·
- Lisbon City Council announces transfer of land to private entities and cooperatives to accelerate affordable housingrtp.pt ·
- Lisbon: Moedas presents 1.463 billion euro budget for 2027 with boost for housing and urban cleaningdn.pt ·
- Moedas proposes new 291 million euro loan until 2029eco.sapo.pt ·
- Lisbon City Council plans new bus lanes and 140 more electric buses by 2027cmjornal.pt ·
- Lisbon forecasts increase in housing investment in 2027observador.pt ·
