€19,000-a-year earners can only afford 5% of Lisbon housing

 In Commercial Real Estate, News, Residential Real Estate

A study from the chain of estate agencies Century 21 Portugal on the accessibility of housing in Portugal shows that 155,000 families with net annual incomes of between €5,000 and €19,000 can only afford 5% of the housing offer in Lisbon.

It means that 95% of the 50% of Lisbon’s inhabitants who earn up to €20,000 a year can only afford to buy a house between €120,000 and €190,000, with this 95% not even able to find a property within this price range, let alone afford the mortgage.
“This study reveals that there is a clear imbalance between supply and demand. There is a very clear lack of homes to buy or rent for middle class families. Therefore it is urgent to increase the social housing stock to cover the needs of people in urgent need of housing and increase the flow of available properties to buy or rent at affordable prices in line with the income of Portuguese families”, Ricardo Sousa, CEO of Century 21 Portugal in statements to NOVO Economia.