Portugal's Housing Woes Dominate Concerns
The latest autumn Eurobarometer survey reveals that 28% of Portuguese citizens consider housing the most pressing issue in Portugal. While this figure shows a slight improvement—a 3 percentage point drop compared to spring—housing remains a prominent concern. Portugal ranks behind Ireland (63%), Luxembourg (51%), the Netherlands (47%), and Spain (35%) in the EU, where housing is identified as a key issue by just 13% overall.
Interestingly, in countries like Sweden, Greece, and Bulgaria, housing is barely flagged as a concern, with only 2% of citizens mentioning it. Similarly, in 15 EU nations, fewer than 10% of respondents identify housing as a central problem, reflecting significant disparities in housing pressures across Europe. These results highlight the varying degrees of housing-related challenges across EU member states, with Portugal standing out as one of the nations where this issue resonates deeply with the population.
Portugal's housing prices in the last decade have risen over twice the OECD average and quadruple the Eurozone rate.
Separately, a study by the association Causa Pública analysed housing trends from 2013 to 2023, revealing that house prices in Portugal more than doubled (121%), with a real increase of 81% above inflation. While rising housing costs are a global issue, Portugal’s increase is stark—more than twice the OECD average (40%) and over four times the Eurozone’s growth (below 20%).
The study highlights that housing prices in Portugal have outpaced income growth significantly. Prices increased by 6.1 percentage points annually above inflation, while incomes rose only 0.9 points. This trend persisted during the pandemic and the period of rising interest rates, with no signs of reversal into 2024. Causa Pública notes that rising housing prices have exacerbated affordability challenges, underscoring the need for systemic solutions.
Disclaimer: The views expressed above are based on industry reports and related news stories and are for informational purposes only . SSIL does not guarantee the accuracy, legality, completeness, reliability of the information and or for that of subsequent links and shall not be held responsible for any action taken based on the published information.