The Porto City Council allowed the owner of the Douro Azul group, Mário Ferreira, and the CEO of American Vintage to pay a financial compensation of 1.23 million euros instead of delivering 2,937 square meters of residential space intended for affordable housing as part of a real estate development agreement.
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The protest movement for housing rights plans to return to Rossio square on Saturday 24 October at 19:00, following an assembly held in Marvila on Friday 23 October. A march against housing speculation is also scheduled to depart from Marquês de Pombal at 15:00 on Saturday 24 October, heading to Rossio. The protesters are demanding changes to rental laws, a halt to evictions without alternative housing, and measures to curb real estate fund purchases and implement rent caps.
The president of the Institute for Housing and Urban Rehabilitation (IHRU), Benjamim Pereira, apologized for recent comments suggesting today's youth should make more sacrifices to afford housing, similar to previous generations. While the leader of the Socialist Party (PS) criticized the remarks as unfortunate, he deferred any decision on a potential resignation to the Prime Minister, even as other opposition parties call for hearings or the official's dismissal.
The ongoing housing crisis in Portugal has caused rental prices to surge, leaving many families, particularly single-parent households, unable to afford market-rate rents.