Almost half of households in Portugal are experiencing difficulties due to rising housing costs, survey reveals

In 2023, the housing crisis was most responsible for the squeeze on families, ‘Correio da Manhã’ indicated this Monday, according to data from DECO. The annual survey by the consumer protection association – involving around 7 thousand people – indicated that the rise in rents and interest rates on housing loans brought difficulties to half of the households in Portugal.

According to DECO, the trend of difficulties is expected to continue this year. “Although it fell from 7.9% in 2022 to 4.3% in 2023, inflation continues to negatively impact a considerable number of Portuguese people. Almost no family escaped the effect of rising prices when paying bills”, pointed out the experts at DECO-PROteste.

In addition to the rise in income, the monthly house payment to the bank has become ‘heavier’ – remember that the average interest rate went from 1.084% in 2022 to 3.612% last year, INE data revealed .

Of those questioned, around a third (31%) revealed that they felt “much more” difficulties in paying expenses and for 4% this was an impossible mission. Only a minority (6%) said they had not suffered any impact.

Single-parent families (children living with only one parent) are those facing the greatest risk of poverty. According to official data replicated by DECO, in Portugal there are 75 thousand households facing situations of extreme poverty.