“Property developers including Vanguard Properties, which has invested about 1 billion euros ($1 billion) in Portugal, have blamed rising real estate prices on a housing shortage that’s caused by long delays in the issuance of new building licenses, especially in the capital Lisbon,” according to Bloomberg.
Well, naturally! (What else could developers say, that they’re jacking the prices up themselves? Or that there’s rampant real estate speculation here as evidenced by all the new apartments going empty? That would be silly, you silly.)
Related:
Also, it’s tough being a landlord in this town.
And for those not giving up on moving here: