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EC: Affordable Housing a Problem in Portugal

2 March 2020 – After having noted potential signs of overvalued housing prices in Portugal, the European Commission (EC) has now issued a warning stating that the lack of affordable housing is already a pressing social problem in the country.

The EC explained that “the rise in housing prices is intensifying financial pressures on the most vulnerable.” At the same time, it noted that the Portuguese government has been implementing measures to make housing more accessible… Such measures have included tax incentives for long-term rentals, strengthening the supply of housing through the financing of municipal projects, and the allocation of public buildings and land for private residences in conjunction with private investors.

The housing crisis, however, has been “partially mitigated” by the high proportion of Portuguese who own their own homes, which is higher than the European average.

Original Story: Idealista

Translation/Summary: Richard D. Turner