Portugal ends Golden Visas, curtails Airbnb rentals to address housing crisis

FILE PHOTO: A person walks in Alfama neighbourhood in Lisbon, Portugal, February 16, 2023. REUTERS/Pedro Nunes/File Photo

LISBON (Reuters) -Portugal announced on Thursday a hefty package of measures to tackle a housing crisis, including the end of its controversial "Golden Visa" scheme and a ban on new licenses for Airbnbs and other short-term holiday rentals.

Rents and house prices have skyrocketed in Portugal, which is among the poorest countries in Western Europe. Last year, more than 50% of workers earned less than 1,000 euros per month while in Lisbon alone, rents jumped 37% in 2022.