Skip to Content

In low-wage Portugal, Europe’s housing crisis bites deep

KIFI

By HELENA ALVES and BARRY HATTON
Associated Press

LISBON, Portugal (AP) — Portugal’s center-left Socialist government is set to approve a package of measures to address the country’s housing crisis. A growing number of people are being priced out of the property market by rising rents, surging house prices and climbing mortgage rates. Affordable housing is a problem across the European Union. But the problem runs deep in Portugal, one of Western Europe’s poorest countries and has long pursued investment on the back of a low-wage economy. The problem has been magnified by tourism, a growing influx of foreign investors and visitors needing short-term rentals. Official figures show that just over half of Portuguese workers earned less than 1,000 euros a month last year.

Article Topic Follows: AP National

Jump to comments ↓

Author Profile Photo

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content