CHAPTER 3: CHALLANGES
3.1 Time constraints
It would be fair to say that bureaucratic delays and unforeseen technical issues present significant challenges to the timely implementation of urban regeneration projects in Portugal. These delays have the potential to increase project costs and reduce their economic viability, which may discourage owners and investors from proceeding with the necessary rehabilitations.
3.2 Financial incapacity
One of the key challenges facing owners and investors in the rehabilitation of vacant properties is the lack of affordable financing options. Small property owners often find it difficult to obtain favourable credit lines, due to the less attractive loan conditions for urban rehabilitation compared to the construction of new properties. This financial inability can hinder promising projects and contribute to inequality in access to affordable housing.
3.3 Lack of human and material resources
It would be prudent to acknowledge the additional challenges that the shortage of qualified construction labour and the rising costs of building materials are posing to the effective implementation of rehabilitation projects. The ongoing impact of the global pandemic has unfortunately contributed to a further tightening of materials supplies, with costs increment. Furthermore, the construction sector in Portugal is currently facing a notable shortage of skilled workers, which is resulting in delays and increased construction costs.
3.4 Conclusion
It is evident that the challenges currently facing urban revitalisation in Portugal, including time constraints, financial incapacity and a lack of human and material resources, present significant obstacles to progress. In order to overcome these obstacles, it is essential to consider strategic and innovative responses, which will be explored in the next chapter.