[moltar]

I highly doubt it’s foreigners to be honest.

I live in a plain Portuguese neighborhood of Porto. There are virtually no foreigners. At least I never see any when walking around or going to a grocery store. I maybe see one a day out of 100s of Portuguese people.

Yet my local Portuguese landlord keeps jacking my rent every year by a huge margin way exceeding the government norms.

Who forces them to do that?

They don’t even live in the city. They live outside in the Douro valley.

It’s just pure greed.

It’s a self fulfilling prophecy. They see average values went up and they adjust accordingly.

And why did the values all of a sudden go up on my neighbourhood with no foreigners?

[kranke155]

The average rental in Porto has been exploding upwards due to the influx of airbnbnization and foreign income flooding the real estate market.

What you are describing is a second order effect.