+
 Hundreds of people protest in Portugal over the housing crisis
Real Estate

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


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

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?