It’s no secret that Portugal is facing a housing crisis. Whether buying or renting a home, the prices on the market make it difficult for some people to access them. And recent data goes even further by showing that Lisbon is the city in the European Union (EU) where the highest percentage of salary goes to pay for housing.
According to the report by the European Council entitled “One roof, many realities: the complex housing crisis in Europe”, recently released and quoted by several leadingmedia outlets, citizens in Lisbon spend 116% of their salaries on housing.
The information gathered from Deutsche Bank took into account average salaries, as well as values for apartments in the centers of the main European cities. In this context, the Iberian Peninsula comes out on top, but for the ‘worst reasons’. In addition to Lisbon, Barcelona and Madrid close the podium of cities where the most salary is spent on housing (a ratio of 74% in the case of ‘nuestros hermanos’).
Where the most salary is spent on housing
In the informative video published on Lisboa Secreta’s official Instagram account, you can see some of the cities featured in the European Council’s report.
However, it is also worth highlighting some surprising cases. This is because there are cities with higher standards of living where the percentage of salary spent on housing is much lower than in Lisbon:
- Vienna (Austria) 37%
- Frankfurt (Germany) 34%
- Helsinki (Finland) 35%
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