Portugal is facing a housing crisis, with thousands of people protesting in Lisbon and other cities over soaring rents and house prices

Portugal is facing a housing crisis, with thousands of people protesting in Lisbon and other cities over soaring rents and house prices

Portugal is facing a housing crisis, with thousands of people protesting in Lisbon and other cities over soaring rents and house prices. The country is one of Western Europe’s poorest, with more than 50% of workers earning less than 1,000 euros per month last year. Rents in Lisbon have jumped 65% since 2015, while sale prices have soared 137%, according to data from Confidencial Imobiliario. The situation is particularly hard on young people, with the average rent for a one-bedroom flat in Lisbon around 1,350 euros. Last month, the Socialist government announced a housing package that included ending the “Golden Visa” scheme and banning new licences for Airbnb properties, but critics argue it is not enough to lower prices in the short term. Portugal’s current 8.2% inflation rate has exacerbated the problem.

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