The Portuguese Government has revealed that it wants to create a pool with currently vacant (or available) properties across the country, that will be turned into affordable rental housing.
The average value of housing rent in Portugal registered a monthly variation of -0.2% in May 2020, a value 0.3 percentage points (p.p.) lower than that registered in April.
The Portugese Government is considering abolishing the fixed amount of money given to university students as an accommodation allowance, and adjusting it according to the average rent in the area where they study. Currently, the grant is around 170 euros, regardless of the city.
178,691 homes were sold in Portugal in 2018, 16.6% more than the previous year. This is the highest figure in the last 10 years, since 2009, according to the National Institute of Statistics (INE).
Renting a house in Portugal was 9.3% more expensive in 2018 than previous years, with the average cost per square metre for the whole country reaching 4.80 euro, which is 0.45 euro per square foot.
Renting an apartment in Lisbon is more expensive than it was a year ago, but the rise in prices is slowing down. In the second quarter of the year, rental prices in the Portuguese capital rose by 1.8% over the previous quarter and by 17% in counterpart terms.
Buying a house will always be cheaper than renting in the long run, wherever it is in Portugal, according to accounts based on data from the National Institute of Statistics (Instituto Nacional de Estatística or INE).
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.
More houses and cheaper. In the end, though, where are these houses? Nowhere. The Portuguese real estate market is in the middle of a drama: there is a lot of demand and little supply at affordable prices.
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