Regarding problems of " abandoned " tourist projects: this has to do with the bankruptcy of construction companies, particularly Timesharing flats, and also the banking crisis that affected the BPN, BPP and BES banks in the 2008 and 2011 crises. These cases have taken years and years to get through the Portuguese justice system, which is slow and accumulates unacceptable efficiency errors. I know a case of timesharing bankruptcy in the Algarve, with hundreds of creditors. The construction company went into insolvency in 1992, and only in 2022 (!), was the process concluded, with the "massa falida" (bankrupt estate) giving rise to compensation for the creditors - among them, a few hundred clients who invested their money in the 90s, to have a week's holiday every year..... unbelievable.
The Portuguese State itself, with incompetent politicians, who unfortunately cannot be sent away from their seats of power (for various reasons that I cannot talk about here), leave their public assets abandoned... and expect the housing crisis to be solved by private individuals. These private individuals who, in addition, still live with unaffordable taxes and fees set by the government itself...
There are also the international real estate funds full of money, which speculate prices, buying entire buildings cheaply, increasing gentrification, especially in major cities, and that neither the increased taxes on property, encourages them to rehabilitate, waiting for prices to rise more and more, and postponing the placement of these properties on the market ...
And finally, some town halls that promote some businesses of doubtful usefulness, or that anticipate the construction works, given the expected real estate demand in their municipality. And what is behind all this? Personal interests, politics, companies that corrupt politicians, and so on....
The Portuguese people have great virtues... but also a huge defect, which is the fear of change and risk. The reason for this has to do with over 50 years of dictatorship and a political class which promotes dependence on the state and little on private initiative. Hopefully, the generational change will solve this and the new generations who no longer lived under the dictatorship (1925-1974) or in the turbulent years (1974-1985) after the revolution, and drunk on some kind of ideologies which I can't say here which ones... that lead nowhere ... will be able to change this paradigm...