The demand for the rental market in Portugal is still much higher than the supply of homes.
According to the national statistics bureau, the total number of families searching for a home on the rental market are increasing.
If the supply of new homes, for the rental market, will not meet the real demand, we will not be able to see any market equilibrium in 2023, and the shifts on price will happen due to more speculation than real and credible data.
The government has been active in creating new legislation specifically for the rental market, and to support social programs for the same sector.
There are new rules for the advertisement of properties in market. They must contain the Agent license details.
The Portuguese Housing and Urban Rehabilitation Institute (IHRU - Portuguese name), has new competences, and will supervise the market to make sure everyone is complying with the new legislation demands.
It is now competence of the IHRU, to organize and decide for the financial support for many of the families struggling to meet the end of the month closers.
last year, has been announced publicly the new housing program, PRR (Plano de Recuperacao e Resilencia, in Portuguese), with the aim of building, and supply the market with 6 800 new homes for affordable prices till next June 2026.
The measures adopted to stimulate the market include tax benefits for all properties that will choose to be part of the new affordable price program, And is for the next upcoming 25 years.
Increase the supply of new homes it's a challenge for all market players. I believe it can be made if there's mutual understanding, and a common strategy, between public and private sectors.