Portugal today faces one of the biggest structural challenges of recent decades in access to housing. But, more than discussing measures or responsibilities, it is important to look at solutions that can contribute to a more balanced market. Renting is one of them, and it remains underutilized in our country.
Portugal is, historically, a country of property owners. Buying a home has always been seen as the goal of families, while renting has remained associated with instability. This reality contrasts with what happens in many European capitals, where renting is a stable and socially accepted option. In a context where not everyone is able to buy a house, strengthening the rental market is essential to respond to the housing crisis.
But talking about leasing today is no longer just talking about contracts. It’s talking about a new tenant profile and new expectations. Those looking to rent look for modern, energy-efficient buildings, well located and with integrated services, with clear contracts and less bureaucracy.
It is in this context that the model built-to-rent gains relevance. These are projects designed from scratch for rental, designed for the long term. Through public-private partnerships, between the autonomous community and institutional investors, it is possible to increase the supply of rental housing, with quality and scale. The result is a market with greater confidence for those who rent and those who invest.
But it is essential that any rent reinforcement strategy takes into account the population’s salary levels. In recent years, incomes have not kept pace with rising home prices. Thinking about rent as part of the response to the crisis implies recognizing that housing is a fundamental right and that the market, alone, cannot respond to everyone.
Therefore, it is essential to reinforce the public housing stock for rent and create affordable solutions for the middle class. A healthy rental market needs diversity: private supply, institutional investment, but also a present State, capable of guaranteeing answers for those left out of the market.
The housing crisis cannot be resolved with a single answer, nor with short-term solutions. It is resolved with vision, planning and courage to change models. Leasing, in particular when supported by projects built-to-renteffective partnerships between the public and private sector and a robust public housing policy, can be a decisive part of this response.
If we want more inclusive cities and a more balanced housing market, we need to stop seeing rent as a lesser alternative. It is, increasingly, a central solution for the future of housing in Portugal.
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