In the past decade, Lisbon has transformed into Europe's most unaffordable capital as housing prices surged 176%. The home price to income ratio highlights this shocking shift, with the city ranking first for housing unaffordability. The rise in prices followed Portugal's post-2008 financial crisis strategy of aggressive urban liberalisation aimed at stimulating real estate and tourism. This included relaxed rental laws, tax incentives for non-resident buyers, and promotional efforts for short-term rentals, leading to a hospitality boom that has exacerbated the city’s housing crisis.
“Lisbon has dramatically transformed from one of Europe’s most affordable capitals to the most unaffordable, with house prices soaring 176% since 2014.”
“The home price to income ratio reveals that hot markets and tourism-driven demand have shifted Lisbon to the top of Europe's housing unaffordability rankings.”}],
“Portugal’s aggressive liberalisation post-2008 was aimed at boosting real estate investment and tourism, significantly contributing to housing unaffordability.”
“In Lisbon, where 60% of taxpayers earn less than 1,000 a month, finding housing options below that price is nearly impossible.”
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