Thursday, May 30, 2024
HomeE.U.Portuguese cities in protests for the right to housing

Portuguese cities in protests for the right to housing

Organized protests for the right to affordable housing took place in 24 Portuguese cities, according to Euro News.

The second line of protests, which are basically aimed at the government because of high rental prices and soaring interest rates, is having a severe impact on most households due to mortgages.

Many Portuguese, including the middle class, do not have access to the property market due to rising rents, skyrocketing house prices and rising mortgage rates, helped of course by the growing influx of foreign investors and tourists seeking short term rentals, causing prices to rise and locals to leave their neighbourhoods.

Between 2020 and 2021, for instance, rent prices rose by 157% and between 2015 and 2021 by 112%.

Portugal is already one of the poorest countries in Western Europe, and such a sharp jump in prices only exacerbates the situation.


Most Popular