It's great for Portuguese Treasury, Real Estate investors and the Hospitality Industry. But terrible for everyone else living in Portugal.
Foreign buyers have driven the housing market well above the purchasing power of locals, who still have one of the lowest salaries in Europe specially when adjusted to cost of living.
For perspective, Portuguese minimum wage is 600 euros with a mode at around 1k per month (pre-tax).
It's great for Portuguese Treasury, Real Estate investors and the Hospitality Industry. But terrible for everyone else living in Portugal.
Foreign buyers have driven the housing market well above the purchasing power of locals, who still have one of the lowest salaries in Europe specially when adjusted to cost of living.
For perspective, Portuguese minimum wage is 600 euros with a mode at around 1k per month (pre-tax).