en 
According to a study by the OECD, while property prices have
skyrocketed, average household incomes have not. Now a Portuguese person needs
the equivalent of 11.4 years of salary to be able to buy a 100 square metre
house.
Analysing the 31 main OECD economies, it was found that in
2020, in Portugal, a household needed the equivalent of 11.4 years of wages to buy
a house of 100 square meters, practically the same as was needed in 2000 (11.3
years).
Portugal appears above the middle of the table, ahead of
countries such as the United States (where families need the equivalent of 4.1
years of wages), Norway (7.8 years), the United Kingdom (11 years) or Sweden
(11.2 years). Behind Portugal, are countries such as Switzerland (12.6 years),
France (12.8 years), Luxembourg (15.8 years) or New Zealand (18.7 years).
“The decline in housing affordability has led to economic
and social challenges that disproportionately affect the poorest households and
young people,” says the OECD. House prices and rents “have risen faster than
inflation and incomes in recent decades, and while lower interest rates have
reduced mortgage costs, they have only partially cushioned the impact of higher
house prices.”
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Does the Government care NO. They would sooner the Portuguese leave and let the filthy Rich Brits buy everything and bring the country down like they did Spain to there cost. But things are changing in Spain. Portugal beware. !!!!!!
By J from Lisbon on 27 Jul 2022, 12:33
I resent the reference to filthy rich brits.... I came to Portugal and bought a run down house no-one wanted. I have employed local builders and bought local materials etc. I support the local economy and Do Not consider myself a drain on Portugal. There are too many houses left in ruins after being taken by fires, where obviously the owners did not care to look after the property. if it takes foreigners to take these places on and restore, then that can only be a positive..
I agree there should not be such a huge difference between house prices and household income, but be aware, higher income eventually results in higher cost of living.
By Michael Saint from Beiras on 28 Jul 2022, 02:34
Question to J: can you explain your statement?
Agreed housing costs have skyrocketed and are a problem, but as the article states, Portugal is not the only country where families need over 10 years to buy a house, this is why the mortgage concept was invented, to allow people to buy their house and pay in monthly instalments instead of spending it on paying rent to a landlord. And concerning the "filthy rich Britts" the money they spend on houses and ruins could be considered as a welcome cash injection in the country and in the labourforce ...
By H from Algarve on 28 Jul 2022, 07:19
First & foremost name calling is a total useless energy and should not be encouraged by The Portugal News nor any other reporting news network. Second, the financial divide between the haves and haves not is the real underlying issue(s) both here in Portugal and anywhere else on this planet. Thirdly, us Portuguese made our choices when we have elected government after government where (1.) The Portuguese have become inhabitants expelled by policies such as VISA GOLD; NRH or mass TOURISM and (2.) Our whole country has become a vast High Street Shop basically just selling Passports. This has of course attracted the most wealthy, the high net worth individuals but from all over the world. Americans, French, Brazilians, Chinese, Middle East, the list is endless, hence the frustration the locals are feeling given real income. We cannot and never should point the finger outwards. We have never collectively cared much about our beautiful blessed piece of Earth here so why blame anyone else?
By Miguel Diogo from Lisbon on 28 Jul 2022, 18:31