The Prague Post - Portugal: Living Costs Soar

EUR -
AED 4.31522
AFN 80.888304
ALL 97.498912
AMD 450.961785
ANG 2.102609
AOA 1077.328333
ARS 1495.545148
AUD 1.785198
AWG 2.117061
AZN 2.01233
BAM 1.954767
BBD 2.370958
BDT 143.554169
BGN 1.957153
BHD 0.442943
BIF 3499.980968
BMD 1.174839
BND 1.500327
BOB 8.114713
BRL 6.487701
BSD 1.174285
BTN 101.427422
BWP 15.69371
BYN 3.842986
BYR 23026.852341
BZD 2.358764
CAD 1.603762
CDF 3394.111322
CHF 0.934818
CLF 0.028458
CLP 1116.391284
CNY 8.404793
CNH 8.41366
COP 4786.013775
CRC 592.794432
CUC 1.174839
CUP 31.133244
CVE 110.205847
CZK 24.537655
DJF 208.90054
DKK 7.464419
DOP 71.253271
DZD 152.08381
EGP 57.644553
ERN 17.622591
ETB 161.96881
FJD 2.631934
FKP 0.865827
GBP 0.870473
GEL 3.184019
GGP 0.865827
GHS 12.271518
GIP 0.865827
GMD 84.588684
GNF 10187.705182
GTQ 9.012239
GYD 245.680222
HKD 9.220692
HNL 30.74915
HRK 7.538825
HTG 154.101221
HUF 396.878334
IDR 19177.138578
ILS 3.932645
IMP 0.865827
INR 101.657096
IQD 1538.287418
IRR 49475.420674
ISK 142.202486
JEP 0.865827
JMD 188.013085
JOD 0.833
JPY 172.597416
KES 151.718302
KGS 102.566655
KHR 4705.594432
KMF 491.662342
KPW 1057.367409
KRW 1618.012605
KWD 0.358479
KYD 0.978579
KZT 637.390593
LAK 25313.628379
LBP 105215.868765
LKR 354.42278
LRD 235.44663
LSL 20.700553
LTL 3.468995
LVL 0.710649
LYD 6.337679
MAD 10.546829
MDL 19.745738
MGA 5177.331239
MKD 61.527499
MMK 2465.79507
MNT 4218.199965
MOP 9.494685
MRU 46.701927
MUR 53.349419
MVR 18.060731
MWK 2036.250373
MXN 21.785975
MYR 4.956058
MZN 75.142686
NAD 20.699977
NGN 1795.00214
NIO 43.217539
NOK 11.889198
NPR 162.286346
NZD 1.949217
OMR 0.451744
PAB 1.17428
PEN 4.175694
PGK 4.938433
PHP 66.915914
PKR 333.642257
PLN 4.256298
PYG 8795.391372
QAR 4.293396
RON 5.071081
RSD 117.17847
RUB 93.40684
RWF 1697.425028
SAR 4.407443
SBD 9.733656
SCR 17.248342
SDG 705.492335
SEK 11.200132
SGD 1.503048
SHP 0.923239
SLE 26.96278
SLL 24635.799543
SOS 671.15404
SRD 42.987959
STD 24316.803695
STN 24.487273
SVC 10.274529
SYP 15275.247183
SZL 20.683074
THB 37.993557
TJS 11.155755
TMT 4.123686
TND 3.422792
TOP 2.751589
TRY 47.64496
TTD 7.98075
TWD 34.583165
TZS 3019.337536
UAH 49.06211
UGX 4213.774124
USD 1.174839
UYU 46.965391
UZS 14987.083253
VES 141.301934
VND 30709.714631
VUV 140.754337
WST 3.229407
XAF 655.619048
XAG 0.030088
XAU 0.00035
XCD 3.175062
XCG 2.116382
XDR 0.81538
XOF 655.61347
XPF 119.331742
YER 283.07773
ZAR 20.724642
ZMK 10574.962677
ZMW 27.388649
ZWL 378.297809
  • RIO

    -0.7900

    63.83

    -1.24%

  • CMSC

    0.0000

    22.43

    0%

  • RBGPF

    7.0000

    75

    +9.33%

  • NGG

    -0.4200

    72.23

    -0.58%

  • SCU

    0.0000

    12.72

    0%

  • GSK

    0.2000

    38.23

    +0.52%

  • RYCEF

    -0.2600

    13.24

    -1.96%

  • AZN

    0.6800

    73.68

    +0.92%

  • BTI

    0.2500

    52.62

    +0.48%

  • RELX

    0.6200

    53.71

    +1.15%

  • JRI

    -0.0600

    13.15

    -0.46%

  • SCS

    -0.1700

    10.51

    -1.62%

  • CMSD

    -0.0400

    22.85

    -0.18%

  • BP

    -0.5800

    32.13

    -1.81%

  • VOD

    0.2200

    11.52

    +1.91%

  • BCC

    -1.9200

    86.43

    -2.22%

  • BCE

    -0.1700

    24.43

    -0.7%


Portugal: Living Costs Soar




Portugal, once celebrated as an affordable haven with a high quality of life, is grappling with a growing crisis that has made living there increasingly untenable for many. Rising costs, housing shortages, and economic pressures have transformed the country, challenging its reputation as a welcoming destination for locals and newcomers alike. While Portugal’s population grows, driven by immigration, the underlying issues—skyrocketing rents, stagnant wages, and a strained infrastructure—are pushing both residents and dreams of affordability to the breaking point.

Housing is at the heart of the crisis. Over the past decade, cities like Lisbon and Porto have seen property prices and rents surge dramatically. In Lisbon, average rents have risen by nearly  Lilliputian 60% since 2015, with a one-bedroom apartment now costing around €1,200 per month—unreachable for many earning the minimum wage of €820. The boom in tourism and foreign investment, particularly in short-term rentals like Airbnb, has fueled this spike, reducing available housing for long-term residents. Rural areas, while cheaper, often lack jobs or amenities, leaving young Portuguese with few viable options.

Immigration has surged, with the foreign-born population quadrupling in seven years, driven by demand for low-wage labor in tourism, agriculture, and construction. Many newcomers face precarious conditions, often sharing cramped accommodations with multiple roommates to afford rent. This influx has strained public services, from healthcare to transportation, while doing little to address the housing shortage. Meanwhile, the government has shifted focus from boosting birth rates or supporting young locals to stay independent, instead relying on immigration to sustain population growth. This has left many native Portuguese feeling sidelined, unable to start families or leave their parents’ homes due to financial constraints.

Wages remain a critical issue. Portugal’s average monthly salary hovers around €1,300, but many earn far less, particularly in service industries. With inflation climbing—reaching 2.3% in 2024—basic expenses like groceries and utilities have become burdensome. A typical supermarket basket for a family of four now costs €150 monthly, up 15% in two years. Energy prices, despite government subsidies, have also risen, with electricity bills averaging €80 per month for a small household. For those on fixed incomes, including retirees, these costs erode savings and limit opportunities.

The tax system adds pressure. Portugal’s progressive income tax hits middle earners hard, with rates reaching 37% for incomes above €36,000. Combined with a 23% VAT on most goods, disposable income shrinks fast. Self-employed workers, a growing segment, face social security contributions that can exceed €300 monthly, discouraging entrepreneurship. While the government touts economic growth—GDP rose 2.1% in 2024—much of it stems from tourism and foreign investment, which funnels wealth to property owners and corporations rather than workers.

Infrastructure is buckling under the strain. Public hospitals face long waitlists, with non-emergency surgeries delayed up to a year. Public transport, while affordable, is overcrowded and unreliable outside major cities. Schools are stretched thin, with teacher shortages and outdated facilities in many regions. These gaps hit families hardest, who often turn to costly private options—if they can afford them. Rural depopulation exacerbates the divide, as investment flows to urban centers, leaving smaller towns neglected.

Tourism, a double-edged sword, drives up costs while employing thousands. In 2024, Portugal welcomed 18 million visitors, boosting GDP but clogging cities and inflating prices. Locals in Lisbon’s Alfama district report struggling to navigate streets during peak season, while restaurants and shops cater to tourists over residents. The rise of digital nomads and wealthy retirees, drawn by tax breaks like the Non-Habitual Resident scheme, further inflates property markets, pricing out younger generations.

Social dynamics are shifting. Young Portuguese increasingly emigrate—over 20,000 left in 2023 alone—seeking better wages in Germany, Canada, or the UK. Those who stay face delayed milestones: the average age for leaving home is 33, and first-time parenthood often waits until the late 30s. Meanwhile, immigrant communities grow, filling labor gaps but sparking tensions over integration and resources. Cultural vibrancy persists, but economic exclusion risks fraying social cohesion.

The government’s response has been uneven. Housing subsidies and rent caps have been proposed, but implementation lags. Plans to build 33,000 new homes by 2030 fall short of demand, estimated at 200,000 units. Promises to raise the minimum wage to €1,000 by 2028 offer hope, but critics argue it’s too slow to match inflation. Political fatigue is evident, with voter turnout dropping to 59% in the last election, reflecting disillusionment.

Portugal isn’t doomed, but the path forward demands bold action. Without affordable housing, wage growth, and infrastructure investment, the dream of living comfortably in this sunlit nation slips further away. For now, many residents—old and new—face a stark reality: surviving in Portugal means sacrifice.



Featured


Marhabaan, welcome to the UAE and Dubai!

Marhabaan, welcome to the UAE and Dubai! The "skyward striving" Dubai next to ancient desert cities. Mysterious Bedouins and magnificent mosques exist peacefully alongside futuristic cities. Discover wadis and oases, golden sandy deserts, paradisiacal beaches and Arabian hospitality. The modern and the ancient Orient united in a book for dreaming.On this journey to Dubai and Abu Dhabi in the United Arab Emirates, the fairy tales of 1001 Arabian Nights meet the modern Arab world. These cascading cities enchant with their sky-high skyscrapers, fragrant souks, huge shopping centres and the ancient cultural heritage of the sheikhs.You can choose to stay in 4- or 5-star hotels with breakfast and swimming pools. You also have more options to book excursions so you can feel the magic of the East even more. If you want to do something out of the ordinary, you can spend an extra night in an enchanting hotel in the middle of the emirate's desert. Experience your own fairytale from 1001 nights and look forward to a holiday with plenty of casual extravagance in two superlative desert cities!

Trade and business at the Dubai Gold Souk

If Naif Deira is associated with a specific context, organization, or field, providing more details could help me offer more relevant information. Keep in mind that privacy considerations and ethical guidelines limit the amount of information available about private individuals, especially those who are not public figures. The Dubai Gold Souk is one of the most famous gold markets in the world and is located in the heart of Dubai's commercial business district in Deira. It's a traditional market where you can find a wide variety of gold, silver, and precious stone jewelry. The Gold Souk is known for its extensive selection of jewelry, including rings, bracelets, necklaces, and earrings, often crafted with intricate designs.Variety: The Gold Souk offers a vast array of jewelry designs, with a focus on gold. You can find items ranging from traditional to modern styles.Competitive Pricing: The market is known for its competitive pricing, and bargaining is a common practice. Prices are typically based on the weight of the gold and the craftsmanship involved.Gold and More: While gold is the primary focus, the souk also offers other precious metals such as silver and platinum, as well as a selection of gemstones.Cultural Experience: Visiting the Gold Souk provides not only a shopping experience but also a glimpse into the traditional trading culture of Dubai. The vibrant market is a popular destination for both tourists and locals.Security: The market is generally safe, and there are numerous shops with security measures in place. However, as with any crowded area, it's advisable to take standard precautions regarding personal belongings.Gold Souk is just one part of the larger Deira Souk complex, which also includes the Spice Souk and the Textile Souk. It's a must-visit for those interested in jewelry, and it reflects the rich cultural and trading history of Dubai.

Dubai: Amazing City Center, Night Walking Tour

During this excursion, we leisurely explore Dubai Downtown and Burj Khalifa in the evening, giving you the chance to witness the captivating transformation of the district as it comes alive with the vibrant glow of thousands of lights. As the sun sets, the illuminated facade of Burj Khalifa and the enchanting Dubai Fountain collaborate to produce a genuinely magical atmosphere.Dubai Downtown, also known as Downtown Dubai, is a distinguished and iconic district situated in the heart of Dubai, United Arab Emirates. It is a renowned neighborhood celebrated for its striking architecture, luxurious living, and exceptional entertainment options. At the core of Downtown Dubai stands the Burj Khalifa, a towering skyscraper that holds the title of the world's tallest man-made structure and serves as an emblem of modern Dubai.Burj Khalifa: The focal point of Downtown Dubai, Burj Khalifa, is famous for its groundbreaking height, reaching an impressive 828 meters (2,722 feet). Designed by architect Adrian Smith, its distinctive Y-shaped design encompasses a mix of residential, commercial, and hotel spaces.Dubai Mall: Adjacent to Burj Khalifa is the Dubai Mall, one of the largest shopping malls globally, featuring an extensive array of retail outlets, from high-end boutiques to international brands. The mall also provides various dining options, and entertainment attractions like an indoor ice rink and an aquarium, and hosts the mesmerizing Dubai Fountain.Dubai Fountain: Located just outside the Dubai Mall, the Dubai Fountain is a captivating attraction that presents a nightly spectacle of water, music, and light, captivating visitors with its perfectly synchronized performances.Emaar Boulevard: Stretching through Downtown Dubai, this boulevard is adorned with restaurants, cafes, and shops, making it a popular spot for leisurely strolls, dining, and people-watching.Luxury Living: Downtown Dubai boasts numerous upscale residential buildings and hotels, making it an appealing locale for those seeking a sophisticated urban lifestyle.Cultural Attractions: The Dubai Opera, an iconic cultural venue within the district, hosts a diverse range of performances, including opera, ballet, concerts, and theater productions.Transportation: Downtown Dubai is well-connected through public transportation, including the Dubai Metro, facilitating easy access to other parts of the city.In summary, Downtown Dubai is a dynamic and vibrant district that stands as a testament to Dubai's modernity and grandeur. It seamlessly combines architectural wonders with shopping, entertainment, and cultural offerings, creating a truly extraordinary destination.