Thousands protest across Portugal against unaffordable house prices and rents

euronews (in English)

The housing crisis has its roots in a chronic shortage of affordable and social housing, a situation worsened by wealthy foreigners moving to Portugal on the promise of tax breaks.

Transcript

00:00Thousands of people have protested in cities across Portugal against unaffordable house

00:07prices and rising rental costs.

00:10The housing crisis has its roots in a chronic shortage of affordable housing, a situation

00:15worsened by wealthy foreigners moving to Portugal on the promise of tax breaks.

00:20The tourism boom has also led to a surge in short-term holiday rentals, which have put

00:25further pressure on the housing market for locals.

00:29Portugal's centre-right coalition government, led by Prime Minister Luiz Montenegro, has

00:33announced a €2 billion package to build 33,000 homes by 2030.

00:40But many protesters are doubtful they'll be able to deliver.

00:43Between 2020 and 2021, house prices in Portugal shot up by 157 percent.

00:51And from 2015 to 2021, rents jumped by 112 percent, according to the European Union statistics

00:58agency Eurostat.

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