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Lisbon lost its soul: city's renaissance unbearable for locals

image sourced from original article at https://www.ynetnews.com/business/article/hjbj11ccwzx

Lisbon has undergone a dramatic transformation over the past decade, evolving into one of Europe's top gastronomic and cultural destinations. The city's renaissance was fueled by a blend of local ingredients and culinary influences brought by immigrants from India and Africa, helping Portugal rival Spain on the global food stage. However, this newfound popularity has come at a cost for locals, as soaring demand has driven property prices up by 176 percent citywide and over 200 percent in the historic center. According to a University of Lisbon study, when adjusted for local incomes, Lisbon now has the most expensive housing market in Europe, raising concerns about the city's affordability and the impact on its residents.

Original article source: https://www.ynetnews.com/business/article/hjbj11ccwzx
Source Id: 8986536965

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