New Portuguese Law Will Force Owners of Vacant Homes to Get Tenants
The Portuguese government announced new measures last week to handle the country’s housing crisis, including ending the so-called “golden visa” program, and would put a ban on short-term holiday rental licenses, like for Airbnbs.
Lisbon wants to force owners of vacant properties across Portugal to open them up to long-term renters because of soaring home and rental prices.
Portuguese low wages, high 8.3 percent inflation, a tight property market perpetuated by real estate policies encouraging wealthy foreigners over natives, along with a tourism-dependent economy, have caused local housing advocates to protest the inability of Portuguese citizens to rent or buy.
However, the government housing plan, which consists of a package of measures approved by the cabinet of Prime Minister Antonio Costa, has been attacked by property owners as a violation of the constitution….