From Monday, 30 March, through Wednesday, 1 April, a delegation from the European Parliament’s Special Committee on the Housing Crisis in the European Union (EU), joined by Communist MEP João Oliveira, is in Lisbon to examine how the country is responding to the housing crisis.

In a statement, the European Parliament indicated that “a delegation from the Parliament’s Housing Committee is visiting Lisbon to discuss Portugal’s affordable housing program and meet with government officials and national parliamentarians.”

The delegation will assess Portugal’s responses to the housing crisis in Lisbon from Monday to Wednesday.

The European Parliament stated the delegation will discuss the affordable housing program with government officials and parliamentarians.

On Wednesday, the final day of the mission, the MEPs will meet with the Secretary of State for Housing, Patrícia Gonçalves Costa, and the Secretary of State for Planning and Regional Development, Hélder Reis.

The delegation includes João Oliveira, MEP for the PCP (European Left), as well as Irene Tinagli (chair of the committee, from the Socialists and Democrats), Daniel Buda (European People’s Party), and Georgiana Teodorescu (European Conservatives and Reformists).

Influence strategy

Although housing is a national competence, the European Parliament can influence strategy by setting political priorities, adopting resolutions, and pressuring the European Commission to propose concrete measures. Last December, the European Commission proposed the first EU-wide plan to promote affordable housing.

The European plan includes a housing con. The plan also includes increased European funding (from the long-term EU budget, the Cohesion Fund, the InvestEU program, and the European Investment Bank), measures to combat real estate speculation (with greater transparency in the sector), and a new law on short-term rentals (providing a legal framework for local authorities to act).

One of the measures involves a pan-European investment platform (public and private) to channel 10 billion euros per year. The European Commission also aims to provide countries and local authorities with tools to limit short-term rentals, which drive up housing prices, in the legislation it will propose this year. Over the next 10 years, the EU will need to build around 650,000 new homes per year, which requires an annual public and private investment of €150 billion.

The European Union is facing a housing crisis, particularly in countries like Portugal, where home prices and rents have risen significantly, making affordable housing hard to find, especially for young people and low-income families. Brussels estimates that housing prices in Portugal are overvalued by 25%, the highest percentage in the European Union.