Portugal has one the highest numbers of houses per inhabitant in the world. Over 40 per inhabitant. There are 700,000 empty homes in Portugal, not counting airbnbs and second homes. A country of 10,000,000 people.
From 2020 to 2023 there was an increase of 400,000,000 euros in international investment in the Portuguese real estate market. It literally doubles in 3 years.
There is a high number of houses that are kept as investments (empty, second houses, airbnbs etc.). This keeps the market hostage to an international investor class, who in every way but literally have infinite money.
This problem will keep getting worse and worse as long as the government doesn’t do something to fix the root of the issue.
Housing should not be a capital market to be speculated on. There should be no investors in housing.
Things people need to survive can’t be subject to market forces.
Homelessness and lack of housing affordability is exclusively an issue of neoliberal capitalism and the infection of every facet of our existence with “the market”.
Good! More people around the world should protest the rampant price gouging by the land-owning class.
Portugal is popping off lately first the students suing over climate change now this.
Finally we’re on the news for something meaningful, and not for being the best destination for whatever.
Very interesting! I visited Lisbon a month ago for a couple of days (yes I know I was part of the problem!) and I’ve rarely seen a city more overrun by tourists … definitely worse than Barcelona and probably on a par with Venice.
It didn’t feel like a city where normal people live and work (and we went quite far afield). Pretty sorry to see it in this state I hope they manage to sort it out.
Don’t stop at your landlord. Eat your boss too.
