en 
Speaking during the closing session of the Forum Socialism, which took place in Viseu, Mariana Mortágua said that it is urgently necessary to “control rents, with ceilings adjusted to each region, each type of property and, most important of all, adjusted to the salaries” paid in Portugal.
In her opinion, it is also necessary to “reduce the banks’ margin on interest”, since “profits of 5,000 million euros have been recorded in the last 18 months”.
"Limit the interest rate increases to the effort rate of each family and then, finally, we will have justice with the banking system in Portugal ”, she justified.
The leader of the block also said that it was necessary to “prohibit the sale of houses to non-residents”, with the exception of Portuguese emigrants, because this is inflating prices to “much above the wages paid in Portugal”.
English
Nederlands
Deutsch
Français
Español
Italiano
Svenska
Pусский
Română
中文
Türkçe
हिन्दी
Português
Українська
اردو
Polski
عربي
Suomi
עִברִית
Afrikaans
Português (Brasil)
Many Portuguese have bought houses as a way to hedge their money against inflation. Seeing as banks are now charging 5% or more for mortgages and 'offering' a rediculous 1/2 % on term deposits (and raking in billions in profit on the difference) the government should act to close this spread - perhaps insist on a 2% max interest spread between mortgages and term deposits.
This would mean less Portuguese buying houses to park their money., lowering the demand and prices.
Many are in that situation and find themselves with no options on preventing inflation from eating away at their funds unless they buy a property.
By Paul from Algarve on 11 Sep 2023, 12:28
That is why I always vote BE, in my opinion the only socially responsible political party in Portugal.
By Diogo F. from Lisbon on 11 Sep 2023, 12:31
Why, "with the exception of Portuguese emigrants"? Surely, non-domiciled Portuguese emigrants also have “much above the wages paid in Portugal” otherwise they would not have left Portugal in the first place.
By Greg from Other on 11 Sep 2023, 13:02
Where we live 90% of all properties are AL and think that is the real cause of the housing problems. Homes are empty during winter and rented per night at hotel prices in summer.
By Max Terra from Algarve on 11 Sep 2023, 13:04
In order to control this the government should ban sub letting the properties and also should bound 1 house contract per family. People with required documents, get a property on rent and sub let each room to individual family who cannot fulfil the requirements or new to this country. They earn almost double of what they pay to the property owner.
By J. Laiq from Lisbon on 11 Sep 2023, 14:42
As a Portuguese emigrant, the money that emigrants bring in annually more than makes up for any discrepancy you speak of. Money from Portuguese emigrants have helped pull this country out of the dictatorship from 50 years ago. The money helped develop new standards of construction, quality of living and education. The Portuguese population would be far behind the rest of the world were it not for courageous emigrants who sometimes risked their lives(like my father) for a better life. If conditions have deteriorated, it's because politicians have become greedy and put their pockets ahead of the interest of the people. The Portuguese government should be seeding conditions that promote growth and investment, not encouraging the Portuguese to emigrate, that is laziness and the government doesn't want to pull for it's citizens.
By Aniceto from Lisbon on 11 Sep 2023, 17:05
It is staggering how the government fails to see the devastating effect Airbnb has had on the housing market.
Not only has it gutted neighbourhoods making them full of transient people.It has destroyed the long term rental market.It has also impacted the sales market.
To add insult to injury the government then gives Airbnb and other short term rental landlords massive tax breaks.
Time to ban Airbnb from the majority of residential areas and to create the equivalent of motorhome parks where all the short term rental properties are fenced off into very specific areas.
Also permanent residents of houses and condos must be given veto power into whether or not they want short term rentals at their doorsteps.
By James from Algarve on 11 Sep 2023, 17:53
Do this now please before there is nothing left.
By Mike from Algarve on 12 Sep 2023, 09:34
Airbnb and tourist rental is the problem in the Algarve, and I'm sure other areas.
Instead of renting the apartments/houses to people in need, they just rent by the week to tourists. Making it unpleasant to the neighbours.
Revoke all AL licences and there will be massive housing surplus!
By Michael Blesh from Algarve on 12 Sep 2023, 10:15
Where do I sign up? I would even add an extra tax (not less than 10%) for non-EU new residents that buy property and the revenue would be redirected for public housing programmes.
By Nuno from Lisbon on 12 Sep 2023, 10:25
Rent controls have historically either led to or exacerbated housing shortages.
Of course,if socialists understood history or economics they would not be socialists.
The government could instantly lower the price of housing by 5% by abolishing taxes on the purchase price, such a tax is a massive disincentive.
As to the problem of high interest rates; these are the COVID money-printing chickens coming home to roost.
I distinctly remember the Portuguese Left cheering for lockdowns and increased government assistance, and this money had to be printed by the ECB.
Now we have voodoo economics (Modern Monetary Theory) at work, jacking up interest rates to reduce the supply of money circulating.
All foreseeable, unless you let ideology do the thinking for you.
By Quentin Ferreira from Lisbon on 12 Sep 2023, 11:21
So much one dimensional thinking. "What's in it for me?" That's greedy. At first it sounds great to steal from the rich and give the poor.
Then you realize that more builders declare "it's not worth it" and your favorite bank collapses. Such short term actions like taxes and regulations have real long-term consequences. Every socialist economy in history has been a mess in the long run. More recently you need to look no further than the problems in Italy, Spain, and Greece to see the struggle that socialism begets. Don't head down the road to serfdom. Let our markets be free and work through today's difficulties. Get a roommate! Move further out of the city! Take responsibility rather than looking to your government to coddle you with unrealistic and cancerous policies like the ones proposed here.
By Brian from Other on 12 Sep 2023, 16:03
Fascinating to see how many Portuguese have commented in favour of these proposals. Perhaps people don't realise the extent tourism revenues account for Portugal's economy. It's appealing to imagine that revoking AL licences will flood the market with fancy properties that the average individual may afford. But that's a one off. With no more ALs, no one will build any more high quality homes. That would be a reputational damage lasting decades. In the Algarve it would decimate the hospitality industry. There are some parallels to Brexit and how that turned out for the UK.
Instead of going after other people's properties, why doesn't the government encourage people to rebuild the many ruins lying around?
By Alex from Algarve on 13 Sep 2023, 07:44
More crazy, unworkable policies from the embittered and unjustifiably angry far left, jealous of anyone who succeeds through their own efforts and initiative. They want to ban this, control that, and run your life for you. No-one has a God-given right to own property in the area they come from. You have to work hard, save hard to be able to afford it, and that same rule applies to everyone.
Restricting who can buy property will simply lead to vendors, who are mostly Portuguese, not realising the best prices on selling. Talk about cutting your nose off to spite your face. BE won't be happy until everyone is living off welfare and getting their food from a food bank. Anything else, to them, is unjustified 'privilege'!
By Billy Bissett from Porto on 13 Sep 2023, 17:37
A Portuguese friend told me the other day that he would never rent out long-term. If the tenant loses his job and can't pay rent, he has no chance of getting him out of the flat.
Portuguese law doesn't allow this.
By Nick from Lisbon on 14 Sep 2023, 16:19