Portugal needs 70,000 new buildings to meet housing demand

According to experts from the Association of Construction and Public Works, there is a rapid increase in house prices and rental costs, especially in cities such as Lisbon and Porto. The Association of Realtors conducted its own research and blamed the construction sector for insufficient supplying the demand. So, more than 50% of the demand for housing accounts for Lisbon and Porto, Propertyshowrooms.com reports.

While at the beginning of the century more than 100 thousand new buildings were built each year in Portugal, the global financial crisis reduced this figure to 17 thousand in 2011 and some eight thousand in 2013-2015. However, since 2016 the number of housing units has been growing steadily.

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