House prices in Lisbon are 7.7% higher than they were this time last year

Portugal’s housing ‘crisis’ – particularly in the way that it is affecting Lisbon – is being featured now by media sources throughout the developed world. The BBC Global News podcast this weekend focused on the “serious property crisis, powered by an increase in foreign investment and the lack of new homes at accessible prices”. Even renters face an impossible prospect: average rents of €2,000 per month – more than three times the national minimum wage. In this context, SIC Notícias reports that far from any improvements, this year has seen a 7.7% increase in property prices – with very few believing government measures announced to date will bring any meaningful change.