Luxury homes, short lets and shacks: inside Lisbon’s housing crisis

Wealthy overseas buyers lured by ‘golden visas’ helped create a city where workers struggle to find homesManuela Lopes dates her misfortune from the moment her Lisbon neighbourhood began attracting comparisons with Brooklyn. It was the mid 2010s: former warehouses in the old working-class parish of Marvila were giving way to co-working spaces, art galleries, artisan breweries, creative hubs and tech startups. In 2018, average property prices in the neighbourhood were up 79.8% on the previous year.A short walk from Lopes’ home, a 12-building luxury residential project designed by the world-famous architect Renzo Piano is now rising from Marvila’s old industrial waterfront. Prices for apartments, some with balconies overlooking the Tagus, range from €500,000 to €925,000 (£425,000 to £786,000) and many have been sold off-plan. Promotional material for Prata Riverside Village promises a “new way of living Lisbon” for “young families, students, digital nomads and retired people” in a district “distinguished by its true neighbourhood atmosphere; quiet but full of life” .Manuela Lopes (above and below right) was born in the Santos Lima building (right) in the Marvila neighbourhood of Lisbon. She has lived with the threat of eviction since 2017. Photographs: Goncalo Fonseca/The Guardian Continue reading...

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