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Only in Milan and Paris is housing rent more than in Lisbon, with the Portuguese capital appearing in third place in a ranking prepared by the Casafari platform, which presented the Residential Market Report for the fourth quarter of 2022.
The report, which took into account 180 thousand properties in these cities, reveals that rents increased by 36.9% in Lisbon, rising to a value of 21 euros per square meter, a value surpassed only by Milan (23 euros per meter square) and Paris (41 euros per square meter).
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Thank all of you rich European ex Pats and other rich foreigners! Many thanks! Oh, what a joy it is to be a Portuguese person living in Portugal now thanks to you fancy lot. Yay!
By guida from Lisbon on 21 Jan 2023, 06:12
So ridiculously unsustainable.
By Dan from Lisbon on 21 Jan 2023, 12:57
Guida, you should also thank Portuguese government for facilitating this.
By Robert from Alentejo on 22 Jan 2023, 13:22
It's obvious the real estate market must be regulated. URGENTLY! With a world population of 8 billion and counting, people must realize we can't get everything we want. Resources will have to be used, responsibly, to satisfy the citizens of the world's needs, not their wants. The housing resources are short, every resource is getting shorter and shorter by the day, therefore, it's imperative these resources are handled carefully, they can't be at the mercy of greed or selfishness. There must be an equal and fair distribution of these resources, as I said, they can cover people's needs but not all their wishes and wants. The era we are living calls for moderation in our habits and our desires, for the sake of social justice, the sake of our poor planet and the sake of the other living creatures we share it with. Have people ever taken time to think how terrible it is for Nature that a house sits empty most of the time? It's not the emptiness itself, it's the consequences of the emptiness. If that leads to a need of building new houses, then we are harming the planet. It takes a lot of resources to build a new house, not to mention the space that is stollen from Nature. I urge all foreigners to avoid buying properties abroad if you are not going to live in them on a permanent basis, not because you are not welcomed, but simply because it's unsustainable both to society and Earth.
By Cris from Açores on 22 Jan 2023, 14:54
I get it Guida, housing prices and everything else soaring but for all of us, even the rich bi ches. Many of the affluent expats came to Portugal because your government I believe in good faith started a public relations campaign directed towards tourists to bolster what was an ailing economy and infrastructure. They did a great job but like the ball rolling down the hill couldn't stop it. THEN, the corporations realised through real estate they could fill their pockets with little regard for the Portuguese people as most corporations do and the real estate sector charges exorbitant prices now and every industry than can followed because in general they are greedy so now half of the inflation has been proven by the government investigating corporations in the US realise 54% higher profits than before Covid so 1/2 of the inflation# is corporate profits. It's not just Portugal; in Miami here a small studio apartment rents for $2,900. a month all year long. They all do it because there's no regulatory commission to prevent them and I expect they will pay their way through keeping it that way; unfortunately, prices never go back UNLESS there is a "market crash" and I expect that is on the horizon, a global meltdown heading up this summer; store your nuts. What goes up must come down. Try to get along with the polite expats and hopefully they will respect the Portuguese by trying to speak the language and investigate your history and culture.
By Wes from USA on 23 Jan 2023, 07:00
@Wes I understand where you are getting at. Unfortunately, the expat/retiree issue IS a real problem here in Portugal. Not the only problem, but one of them and, therefore, needs regulation. Portugal has regulated the short term rentals many years ago, it must also implement some form of regulation to the real estate sector. Because it really isn't necessary that so many people own properties that sit empty half the year (f not more). Given the current situation, that is increadibly selfish, almost criminal! Canada has taken measures, New Zealand and the Netherlands as well, the Balearic islands in Spain intend to implement them too. I totally agree with this, the situation is unsustainable and nations must provide for the people who ACTUALLY LIVE AND WORK in them, first and foremost. Non resident expats/retirees are guests in the country and, at the moment, it's unsustainable to welcome them all because that is causing the host country/people a lot of troubles. There's a thing called common sense, it's so underated but it should (and must) be used more. Even if governments make mistakes that doesn't mean that each one of us can't do the right thing. Imagine you have a friend who is going through financial difficulties and isn't able to receive friends and entertain. Are you going to impose your presence anyhow? I know I wouldn't! It's all about doing the right thing, about being empathetic, understanding and unselfish. Sometimes we can't (or shouldn't) get what we want, especially if what we want has terrible consequences for others.
By Cris from Açores on 23 Jan 2023, 12:21
@Wes
I was mainly refering to house purchases by non residents, but the same applies to the rental market. Regulation is needed here too as well as the need for foreigners from better off countries to show generosity. Besides the Portuguese not being able to buy or rent, there are also foreign immigrants coming here in search of a better life who aren't able to afford a place to rent. These people are coming here to live and work and they're doing it out of necessity. They too should have priority before expats who are coming here to learn our history and language, don't you think? It's a case of providing for own citizens & immigrants first and foremost and then to guests/expats/retirees, if possible. Or, if you will, it's about NECESSITY VS LUXURY.
By Cris from Açores on 23 Jan 2023, 17:00