Hundreds of people protest in Portugal over the housing crisis

In a time when high inflation is making it even harder for individuals to make ends meet, thousands of people protested against rising rents and home prices in Lisbon and other towns around Portugal. “There is a huge housing crisis today,” Rita Silva, from the Habita housing group, said at the Lisbon protest. “This is a social emergency.” According to government statistics, more than 50% of workers in Portugal, one of Western Europe's poorest nations, earned less than $1,000 ($1,084) per month in 2017. The minimum pay is 760 euros ($826) per month. According to data from Confidencial Imobiliario, a company that gathers property information, rents in Lisbon, a popular tourist destination, have increased by 65% since 2015 while sale prices have increased by 137% over that time. According to Casafari, a different provider of real estate information, rents jumped by 37% last year alone, more than in Barcelona or Paris. The kids are most impacted by the circumstance. According to a study by the housing portal Imovirtual, a one-bedroom apartment in Lisbon costs about 1,350 euros per month to rent. The Socialist administration unveiled a housing package last month that, among other things, restricted new permits for Airbnb rentals and stopped the contentious Golden Visa program, but detractors claim it is insufficient to immediately cut costs. The rally, which was organized by the Home to Live movement and other organizations, was attended by 35-year-old illustrator Diogo Guerra, who said he regularly hears tales of individuals having trouble finding home. “People who… work and are homeless, people are evicted because their house is turned into short-term accommodations (for tourists),” he said. According to a report by insurance brokers CIA Landlords, Lisbon is the third-least viable city in the world to reside in because to low salaries and high rent. The issue has worsened as a result of Portugal's current inflation rate of 8.2%. “With my salary, which is higher than the average salary in Lisbon, I cannot afford renting a flat because it’s too expensive,” said Nuncio Renzi, a sales executive from Italy living in the capital. See also: Nearly 89% of slumdwellers outside ambit of PMAY-U Bengal Shapoorji gets Rs 200 cr loan, resumes work in Sukhobrishti project