Empty houses are currently one of the biggest enigmas of the housing market in Portugal.
In the 21st century, in a context of high rents, difficulty in accessing housing, and thousands of families with unmet needs, the existence of hundreds of thousands of empty houses raises important questions for government officials, experts, and citizens. The issue of vacant homes is at the center of public and political debate and is crucial to understanding the future of the national housing stock and the direction of public policy.

According to official data from the 2021 Census, there are 723,215 empty homes across the country, representing 12.1% of all conventional dwellings. The majority of these properties are in good condition and ready to live in: around 485,000 homes require no work or only minor renovations. This fact alone challenges the common perception that inactive housing stock is limited to derelict buildings or remote locations.

One particularly alarming reality stands out: of the homes in good condition, only 236,927 are on the market for sale or rent. Nearly 250,000 habitable properties remain empty for other reasons. These causes range from pending inheritance processes, the absence of heirs, legal issues, lack of interest from owners, real estate speculation, or expectations of future appreciation. In many cases, homes are kept closed because the owner prefers to wait for better market conditions, does not trust the legislative stability regarding rentals, or fears the risks associated with tenants.

This abundance of vacant homes is especially visible in urban areas, where housing pressure is most acute. Lisbon, for example, has nearly 15% of its housing stock sitting empty—amounting to around 48,000 unoccupied properties—despite being one of the Portuguese cities with the most severe shortage of available housing.

Social and Economic Impact of Vacant Homes
The question arises: How can there be such a shortage of affordable housing while so many homes remain vacant? This paradox has a direct impact on house prices, the gentrification of certain neighborhoods, and the worsening of social exclusion. The unused housing stock is, to a large extent, underutilized, becoming a financial asset for many owners—especially small investors and families who see real estate as a safe investment.

The shortage of available homes and the rise in sale and rental prices are closely tied to the insufficient mobilization of empty properties. Even with occasional incentives, many owners remain reluctant, fearing legislative changes, bureaucracy, or the complications of managing rental contracts. Moreover, renovation costs, property taxes, and the lack of effective tax incentives are further barriers to bringing these homes to market.

The situation is worsened by an aging population and the fragmentation of inheritance. Many properties become tied up in lengthy succession processes, awaiting family agreements that are slow to resolve. In other cases, homes are kept closed because of emotional attachment or memories, with heirs preferring not to rent or sell them.

Challenges in Mobilizing Vacant Homes
Solving the vacant home crisis requires firm action on multiple fronts. One key step is gaining a deeper understanding of the reasons why so many habitable properties remain inactive. It is recommended that municipalities, public institutes, and academic communities be involved in identifying the causes and designing effective solutions. Suggested strategies include tax incentives for long-term rentals, streamlining inheritance processes, long-term penalties for unoccupied properties, the creation of municipal housing databases, and investments in renovation.

In addition, technological and civic initiatives are starting to emerge to map vacant homes—such as collaborative apps that allow people to identify empty properties and raise public awareness. This citizen engagement aims to pressure decision-makers to adopt policies that recover underutilized housing and reverse the absurdity of having so many homes without residents while thousands of people search for a place to live.

Outlook and the Role of Public Policy
The Portuguese government has already announced its intention to present measures to address the problem, focusing on affordable rental programs, cadastral surveys of vacant properties, and direct intervention in critical abandonment cases. There are also efforts to promote greater legal security in the rental sector and introduce positive taxation for owners who place vacant homes on the market.

Despite the challenges, there is a shared consensus: the issue of empty homes can only be tackled through an integrated, pragmatic, and collaborative approach, involving the state, municipalities, property owners, and civil society. It is urgent to turn the untapped potential of empty homes into a concrete solution for the housing crisis, reversing the cycle of exclusion and inactivity that has characterized the sector.

Portugal has houses—the great challenge is to put them at the service of those who need them, ensuring the right to housing and promoting fairer, more inclusive, and dynamic cities. The future of the housing market will inevitably depend on the response that society and governments are able to give to the enigma of vacant homes.