A recent study by Gallup Analytics, based on responses from over 37,000 people in the 37 countries that make up the OECD club of rich countries, reveals that over half of those surveyed are dissatisfied with access to housing. In Portugal, the number rises to 80%.

Although higher interest rates have helped to reduce property prices in some European countries, housing remains more expensive than before the pandemic, as reported by the Financial Times. One of the reasons for this is the combination of rising loan costs and more expensive rents, combined with a chronic housing shortage.

Gallup data shows that discontent with housing costs is highest among those under 30 and those aged 30 to 49. About 44% of people over 50 were dissatisfied with their housing in OECD countries, but the proportion rose to 55% for those under 30 and 56% for those aged 30 to 49. Portugal, Greece, Slovenia, Canada and Australia are among the countries where housing prices are top concerns. Analysts partly blame the lack of new housing construction for the affordability crisis. “Basically, we don’t build enough,” Willem Adema, a senior economist in the OECD’s social policy division, was quoted by the newspaper, adding that developers tend to target wealthier households, exacerbating pressure on those on lower incomes.