This paper comes from several studies regarding housing dynamics and housing policies in Portugal in last four decades. In this specific case, it’s intended to evaluate the impact of the economic and financial crises on housing markets, both on public and private markets. Obviously, we cannot do that without a contextualization of the principal dynamics that have been shaping the specificity of the Portuguese housing market. However, we are looking for new trends that come from a complex context: economic and financial constraints both of the state and families; difficulties in obtaining bank loans; devaluation of real estate; crash of real estate companies; families in difficulties to pay mortgages. These recent trends combine with other ones resulting from demographic, family and labor market changes, particularly, the continuous contraction and precariousness of labor market, the increase of unemployment, the aging of Portuguese population. This specific context seems to design new housing dynamics with deep consequences on housing demand and housing supply systems. We are looking to analyze these consequences not only on real estate markets but also on socio-economic issues as the shrinkage of housing affordability, the rise of inequalities and the increased risks for the most vulnerable groups.

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Portuguese housing dynamics; Crises and housing markets; Housing affordability