Portugal to Stop 'Golden Visas' and New Airbnbs

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Portugal has introduced new regulations to address the country's housing crisis and facilitate housing accessibility for its residents. Prime Minister António Costa announced several measures, including a prohibition on issuing new licenses for short-term rentals, notably targeting platforms like Airbnb, in cities and busy areas. Additionally, Portugal's "golden visa" program, allowing non-European Union residents to obtain residence by making substantial investments in the country, is being terminated. Since its inception in 2012, the program attracted over $7 billion in investments, contributing to a surge in housing prices, particularly in major urban centers such as Lisbon and Porto, leading to housing affordability challenges for locals. Property costs witnessed a remarkable increase of almost 19% between 2021 and 2022, marking the most substantial rise in over 30 years.

While existing golden visa holders will maintain their visas, renewals will hinge on utilizing the property as a permanent residence or making it available for rent. In addition to these measures, the government plans to lease empty properties from owners for five years, introducing them into the rental market. This initiative aims to address the issue of approximately 48,000 vacant homes in Lisbon, as reported in January 2022.


1- What are the main measures announced by Prime Minister António Costa to address Portugal's housing crisis?

2- What is the significance of the government's plan to lease empty properties for five years?

3- How much did property costs increase between 2021 and 2022, according to the passage?


You have completed the comprehension questions. 

Parts of this lesson are based on: An article Engoo Daily News.