Thousands protest in Portugal over rising housing costs

• Demonstrators denounce soaring rents and property prices amid relatively low wages.
• Portugal's house price-to-income ratio increased by 61% between 2015 and 2025, one of the sharpest rises in the EU.

Thousands of people took to the streets across Portugal on Saturday, Nov. 14, in one of the country's largest demonstrations against the worsening housing crisis, demanding government action as soaring rents and property prices increasingly put homeownership and affordable accommodation out of reach.

Demonstrations took place in more than 30 cities and towns, with tens of thousands of people participating under the slogan, "We won't let them steal our right to housing." In Lisbon, protesters marched through the capital carrying banners and flags, chanting and beating drums as they called for stronger tenant protections, limits on rent increases and greater investment in affordable housing, the Associated Press reported.

The protests brought together people from different generations, including teenagers, working families and retirees, reflecting the growing impact of housing costs across Portuguese society.

The demonstrations come amid a sharp deterioration in housing affordability. Portugal recorded the European Union's largest increase in its house price-to-income ratio between 2015 and 2025, with the measure rising by 61%, according to Eurostat figures cited by the Associated Press. The country's National Statistics Institute also reported that house prices increased by nearly 20% between the first quarter of 2025 and the first quarter of 2026.

Rental costs have also surged, with rents rising by 68% since 2020, according to government figures cited by AP. In Lisbon, the pressure is particularly pronounced, as residents face competition for limited affordable accommodation in a city that has become an increasingly popular destination for international visitors, investors and remote workers.

Tourism, foreign property investment and the expansion of short-term holiday rentals have become central issues in the housing debate. Housing activists argue that the growing conversion of residential properties into tourist accommodation, alongside speculative investment, has reduced the availability of homes for permanent residents and contributed to rising prices.

The crisis has also intensified tensions between tenants and the government over proposed changes to rental legislation. Demonstrators have opposed a government-backed bill that would make evictions easier and remove rent caps on new rental contracts, arguing that the proposed measures could leave tenants more vulnerable to rising costs and displacement.

The legislation has already passed an initial parliamentary reading, while Prime Minister Luis Montenegro has rejected calls to withdraw it, although he has indicated openness to amendments.

The government has introduced measures aimed at increasing housing supply, including tax reductions for new construction and restrictions on short-term rentals, and has pledged to build 145,000 homes. However, authorities acknowledge that these measures will take time to produce results.

The Organisation for Economic Co-operation and Development (OECD) has also identified structural problems in Portugal's housing market, including insufficient investment in new homes, a limited supply of social housing, weaknesses in the rental market and inadequate financial support for households unable to afford market prices.

Young people, students and low-income households have been among the hardest hit, with rising housing costs making it increasingly difficult to move out of the family home or remain in major urban centres despite having full-time employment.

The latest demonstrations follow weeks of growing mobilisation, including protest encampments in Lisbon and Porto, as housing activists step up pressure on the government to address the crisis.

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