Many Portuguese, including the middle class, are being priced out of Portugal’s property market by rising rents, surging home prices and climbing mortgage rates.
Portugal has one the highest numbers of houses per inhabitant in the world. Over 40 per inhabitant. There are 700,000 empty homes in Portugal, not counting airbnbs and second homes. A country of 10,000,000 people.
From 2020 to 2023 there was an increase of 400,000,000 euros in international investment in the Portuguese real estate market. It literally doubles in 3 years.
There is a high number of houses that are kept as investments (empty, second houses, airbnbs etc.). This keeps the market hostage to an international investor class, who in every way but literally have infinite money.
This problem will keep getting worse and worse as long as the government doesn’t do something to fix the root of the issue.
Housing should not be a capital market to be speculated on. There should be no investors in housing.
Things people need to survive can’t be subject to market forces.
Homelessness and lack of housing affordability is exclusively an issue of neoliberal capitalism and the infection of every facet of our existence with “the market”.
Portugal has one the highest numbers of houses per inhabitant in the world. Over 40 per inhabitant. There are 700,000 empty homes in Portugal, not counting airbnbs and second homes. A country of 10,000,000 people.
From 2020 to 2023 there was an increase of 400,000,000 euros in international investment in the Portuguese real estate market. It literally doubles in 3 years.
There is a high number of houses that are kept as investments (empty, second houses, airbnbs etc.). This keeps the market hostage to an international investor class, who in every way but literally have infinite money.
This problem will keep getting worse and worse as long as the government doesn’t do something to fix the root of the issue.
Housing should not be a capital market to be speculated on. There should be no investors in housing.
Things people need to survive can’t be subject to market forces.
Homelessness and lack of housing affordability is exclusively an issue of neoliberal capitalism and the infection of every facet of our existence with “the market”.