I currently live in the Lisbon suburbs. Quite frankly from a UK perspective they are a modern miracle - vast areas of medium density housing with shops, schools

I currently live in the Lisbon suburbs. Quite frankly from a UK perspective they are a modern miracle - vast areas of medium density housing with shops, schools, cafes, metro, etc, etc within walking distance (actually stone throwing distance). They were built in the 80s/90s, I'm not sure of the funding, but I doubt it was foreign investment (perhaps the EU? Portugal government?). The reason why there is not enough housing in central Lisbon/Porto is because much of it was turned over to short term lets like AirBnB. This has resulted in much needed renovation (privately funded), but has also resulted in entire neighborhoods being eviscerated of local/long term residents.