In a time when high inflation is making it even harder for people to make ends meet, thousands of people protested against rising rentals and home prices on the streets of Lisbon and other Portuguese towns on Saturday.
At the demonstration in Lisbon, Rita Silva from the Habita housing organisation declared, “There is a severe housing crisis right now.” A societal catastrophe has occurred.
According to official statistics, more than 50% of employees in Portugal, one of Western Europe’s lowest nations, made less than $1,000 ($1,084) per month in 2017. The minimum salary is 760 euros per month.
According to data from Confidencial Imobiliario, a company that gathers property information, rents in Lisbon, a popular tourism destination, have increased by 65% since 2015 and selling prices have increased by 137% during that time.
According to Casafari, a different provider of real estate information, rents rose by 37% last year alone, more than in Barcelona or Paris.
The youth are especially impacted by the circumstance.
According to a survey by the property site Imovirtual, a one-bedroom apartment in Lisbon costs about 1,350 euros per month to rent.
The Socialist government unveiled a housing package last month that, among other things, prohibited new licences for Airbnb homes and terminated the contentious “Golden Visa” program, but detractors claim it is insufficient to immediately lower prices.
The demonstration, which was arranged by the “Home to Live” campaign and other organizations, was attended by 35-year-old artist Diogo Guerra, who said he regularly hears tales of people having trouble finding accommodation.
He claimed that “people who… labour and are destitute, individuals are removed because their property is converted into short-term lodgings (for visitors).
According to a survey by insurance agents CIA Landlords, Lisbon is the third-least feasible city in the world to reside in due to low earnings and expensive rent. The issue has worsened as a result of Portugal’s present inflation rate of 8.2%.
Nuncio Renzi, an Italian sales professional residing in the city, said, “With my salary, which is higher than the average salary in Lisbon, I cannot afford to rent a flat because it’s too expensive.”
