Thousands took to the streets of Lisbon and other cities across Portugal on Saturday in protest against rising rental and home purchase costs amid increasing inflation, making it difficult for individuals to meet their basic needs.
Rita Silva from the housing group "Habita" stated at the protest, "There is a huge housing crisis today; this is a social emergency." Portugal is one of the poorest countries in Western Europe, with government data showing that more than 50 percent of employees earned less than a thousand euros (1,084 dollars) per month last year, while the minimum wage is 760 euros.
Data from "Confidential Inmobiliario," which collects housing statistics, revealed that rental prices in Lisbon, a major tourist destination, jumped 65 percent since 2015, and property sale prices saw a staggering increase of 137 percent. Another housing data company, "Casafari," reported that rental prices rose by 37 percent in just the last year, a higher increase compared to Barcelona or Paris.
Last month, the Socialist government announced a housing package that included, among other measures, the termination of the controversial "Golden Visa" program and a ban on new licenses for properties rented out on "Airbnb." However, critics argue that these actions are insufficient to lower prices in the short term.
The "Golden Visa" program grants residency rights to non-EU citizens in exchange for investments and has been criticized for contributing to the sharp rise in the costs of buying and renting homes.
