Portugal's Low-Wage Workers Struggle with Housing Crisis.

1 min read
Source: WOWK 13 News
Portugal's Low-Wage Workers Struggle with Housing Crisis.
Photo: WOWK 13 News
TL;DR

Rising rents, surging home prices, and climbing mortgage rates are pricing out many people, including the middle class, from Portugal's property market. The problem has been magnified by tourism and an influx of foreign investors who have been driving up prices, forcing locals out of their neighborhoods. Portugal's center-left Socialist government has unveiled a package of measures to address the problem, including forcing the owners of unoccupied properties to rent them out, capping increases in new rental contracts, and ending the government's "golden visa" program.

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