Most young people in Portugal can’t buy or rent property

Employment problems and the financial situation mean young people can't afford properties in Portugal
Employment problems and the financial situation mean young people can't afford properties in Portugal
9 March 2018, Redaction

Neither rent nor buy. That’s the reality for young people in Portugal, who are a long way off being able to afford a property at the current house prices. The sources of this problem are unstable employment, irregular contracts, low salaries and inflated prices, according to a report by Cáritas Europa.

“The prices of a property in Portugal, compared with the average salary, are disproportionate. The youth need a future,” the study states, quoted by the Lusa news agency, which describes the main challenges related to poverty and social exclusion among the Portuguese youth. These challenges include unemployment, the precarious work situation, irregular contracts and low wages.

Cáritas Europa calls attention to the clear imbalances between property prices and salaries of young people, which distance them from purchasing or even renting a house. To solve this problem, the report recommends that politicians act to get “properties at affordable prices for young people, in accordance with their incomes, to give them the opportunity to start an independent life”.

The report also warns about youth unemployment, “a problem which affects many families” and which “restricts the dreams and aspirations of the youth in Portugal”, putting “the future of the country” at risk. According to Cáritas, it is necessary to promote youth employment policies as opportunities and wage levels have decreased a lot since the financial crisis of 2008.

“The youth need a future” is the title of the report, presented by Cáritas on the 27th February in the ISCTE University Institute in Lisbon.

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