Thousands of people took to the streets of Lisbon and other cities across Portugal on September 28, 2024, to protest against soaring rents and house prices, highlighting a growing frustration over a housing crisis that has left many unable to afford homes.
Demonstrators carried posters with slogans such as "I wanted to move out of my parents' house, but the rent wouldn't let me" and chanted, "homes are to live (in), not to speculate." Rita Silva of the Fair Life movement, which organized the protest, expressed that the situation has not improved in the last two years.
The housing crisis in Portugal stems from a chronic shortage of affordable housing, exacerbated by an influx of wealthy foreigners attracted by residency rights and tax incentives. Additionally, a tourism boom has led to an increase in short-term holiday rentals, further straining the housing market.
In response, Portugal's center-right government announced a spending package worth 2 billion euros (approximately $2.23 billion) aimed at constructing around 33,000 homes by 2030. However, protesters remain skeptical, as past government initiatives have failed to alleviate the housing crisis. Silva noted, "Successive governments come up with various policies and packages of measures, but what we see is that the housing situation continues to worsen."
Reporting by Patrícia Vicente Rua and Miguel Pereira; Editing by David Holmes. Source: Reuters.