Thousands Take to the Streets in Lisbon and Porto Over Housing Costs
On October 12, 2024, simultaneous protests erupted in Lisbon and Porto, highlighting the social tension caused by rapid increases in housing costs. Trade unions, youth groups and citizen associations gathered in city centres, stating that rent and purchase prices have reached unsustainable levels.
📌 Key Highlights & Context
- Around 8,000 people marched in Lisbon, while about 5,000 gathered in Porto.
- Participants pointed out that rent hikes have exceeded 15% and that young people’s chances of home ownership are dwindling.
- Government officials pledged to draft an urgent plan to address the housing crisis.
Protesters gathered in municipal squares with banners and chants, accusing market speculation of eroding citizens’ quality of life.
Deepening Impact of the Housing Crisis
Economists note that rents have risen roughly 20% over the past two years, while purchase prices have climbed about 30%, squeezing low‑ and middle‑income families.
- Rent increases can consume up to 30% of household budgets.
- Young professionals face years of saving before they can afford a first home.
Government representatives promised new social‑housing projects and rent‑control mechanisms, but critics argue these measures are insufficient to curb the crisis.
Sources
Milhares em Lisboa e Porto protestam contra o custo da habitação