The number of young homeowners in Portugal has halved in 20 years.

Over the past two generations, the percentage of young people under 25 owning their own home has fallen by around 50%. Only a quarter of Portuguese citizens born after 1997 were able to buy their home before the age of 25, having done so in recent years. In stark contrast, around 55% of those born between 1977 and 1986 were already homeowners by the time they reached the age of 25, having purchased their properties between the late 90s and 2010.

Data released Wednesday by the Portuguese central bank

The data reflect a real estate crisis in the usually low-income country. House prices have risen sharply over the past 10 years, making it impossible for Portuguese citizens to afford''own home, especially for the younger generation. In fact, according to Eurostat, real estate prices have been rising since 2014.

In the second quarter of 2023, real estate prices in Portugal

Were the fourth highest in the European Union at 8.7%, according to Eurostat.

Home ownership in Portugal is higher than the Eurozone average.

The country's central bank has also analyzed the home ownership situation in 2021 based on the latest available data. Two years ago, 70% of families living in Portugal owned their main home, 22% rented, and 8% were in another situation, mostly freehold, such as a house taken in''renting from relatives. The home ownership rate in Portugal is higher than the Eurozone average at 62%, according to the central bank. The institute highlights differences in social rented housing, massive reconstruction after World War II (a conflict that did not affect Portuguese territory) and the lack of tax incentives to purchase real estate in some countries as reasons for this difference.