Thousands marched on the streets of Lisbon on Saturday to protest and demand better living standards, as high inflation makes it even more difficult for people to manage their expenses.

Portugal is one of Western Europe's poorest countries, with government data suggesting more than 50% of workers earned less than 1,000 euros ($1,054.60) per month last year. The monthly minimum wage is 760 euros.

Housing prices in Portugal rose 18.7% in 2022, the most significant increase in three decades and rents have also increased significantly in part due to a speculative property bubble.

Low wages and high rents make Lisbon the world's third-least viable city to live in, according to a study by insurance brokers CIA Landlords. Portugal's 8.3% inflation rate has exacerbated the problem.

At the protest, organized by the "Fair Life" movement, Vitor David, a 26-year-old programmer, said he would like to move back to Lisbon one day but had to live further out because of how expensive it was to rent in the city.

"It comes to a point in our lives that we have no hope. It's tough," he said, adding that he had already pondered moving to a wealthier European country.

Official data shows around 20% of Portuguese live abroad.

"We are here, so that our voices are heard," said Jose Reis, who recently graduated from university but is still unemployed.

The "Fair Life" movement, created by people living in Lisbon's poorer outskirts, says the ongoing cost of living crisis hit those who were already the most vulnerable, before inflation soared, the hardest.

They want higher wages, a cap on the prices of essential goods, and government action on housing.

Portugal announced a hefty package of measures to tackle the housing crisis last week. Still, rights groups said the proposals would mean little if authorities continued to promote other policies to attract wealthy foreigners to the country, such as the Digital Nomads Visa introduced in October.