Portugal's Low-Wage Workers Struggle with Housing Crisis.

1 min read
Source: The Associated Press
Portugal's Low-Wage Workers Struggle with Housing Crisis.
Photo: The Associated Press
TL;DR Summary

Rising rents, surging home prices, and climbing mortgage rates are pricing out many people, including the middle class, from Portugal's property market. The problem has been magnified by tourism and an influx of foreign investors who have been driving up prices, forcing locals out of their neighborhoods. Portugal's center-left Socialist government has unveiled a package of measures to address the problem, including forcing the owners of unoccupied properties to rent them out and capping increases in new rental contracts. However, the proposals have stirred controversy, with some seeing them as heavy-handed and misguided.

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