The Economy of Portugal
Tourism and the Property Boom
Visitors and foreign buyers transformed Lisbon and the Algarve, boosting jobs but pushing up housing costs.
A boom with side effects.
Tourism
Visitor numbers rose sharply after 2014, with Lisbon and Porto becoming popular city breaks.
Foreign buyers
Investors and retirees purchased homes, encouraged by residency schemes.
Rents
Locals in city centres faced soaring rents and displacement.
Policy
Authorities have restricted short-term rentals and ended some residency-by-investment routes for property.
A rising rent
A young Lisbon worker cannot afford an apartment near work.
Ignoring the local cost of tourism
Boom benefits are uneven.
Key takeaways
- Tourism boomed after 2014.
- Foreign buyers pushed up prices.
- Rents rose for locals.
- Policies are tightening.
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