Young Portuguese defer dreams as housing crisis bites

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Young Portuguese defer dreams as housing crisis bites
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When Maria Lopes moved to Lisbon from the northern Portuguese city of Tondela, her goals were straightforward: study, find a job, get a place of her own.

But a decade on, she still lives in a tiny, rented room - one of tens of thousands of young Portuguese hit by a housing crisis exacerbated by the arrival of richer foreigners lured in by incentives pushed by her own government.

Living costs have been soaring across the world. But it is the stark contrast between the winners and losers that makes Portugal stand out among its European peersthe world's third least financially viable city, thanks to its punishing combination of low wages and high rents. Locals struggled to keep up in a country where public housing only represents 2% of the property market, according to government data.Portugal's monthly minimum wage is 760 euros , and around 65% of those aged under 30 made less than 1,000 euros a month last year, according to the Labour Ministry.

They moved from hostel to hostel before finding a council house in Setubal, around 50 km south of Lisbon. Moving back to the city would be "impossible," she said.

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