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Magic Beans grows 23% in revenues
By Essential Business Posted 16 Agosto, 2023 In Companies, News, Start-Up, Technology The Portuguese company Magic Beans, which specialises in technology advisory services, saw revenues grow 23% in H1 2023. Its goal now is to grow by over 50% for the year after having achieved a €3 million in revenues em 2022. Magic Beans has remained focused on the internationalisation of … Read more
Mortgage repayments up 40%
By Essential Business Posted 18 Agosto, 2023 In Interest rates, Mortgage lending, News Successive rounds of ECB interest hikes have filtered down to Portugal’s housing market putting an extra 40% on the average monthly mortgage repayment to €370. This is according to data from the National Statistics Institute (INE) that shows an additional €106 in relation to July 2022, which … Read more
Tourism revenues up 38.3% on 2019
By Essential Business Posted 16 Agosto, 2023 In Hotel, News, Tourism Tourism registered €2.5Bn in total revenues for the first half of 2023, most of this amount (€1.9Bn) were revenues made from overnight stays. These increases were on the back of an increase in overnight stays, with the average price per night in Lisbon at €152,6 and in the … Read more
Government’s controversial housing policy “not unconstitutional” says president
By Essential Business Posted 18 Agosto, 2023 In More Housing Package, News Portugal’s President Marcelo Rebelo de Sousa has ruled out sending a controversial set of public housing policies that include coercive rental measures to the constitutional court to decide if the government has trampled on citizens’ individual property rights. The deadline to either forward the bill … Read more
Government approves local accommodation and coercive rental measures
The Portuguese Government approved its controversial forced rental policy for properties that have been empty for at least two years with no signs of utility payments. It has done so despite a stream of criticisms from property, legal and business associations nationwide in what the President of the Republic has called a ‘poster law’ that … Read more
Association warns of rent increases
By Essential Business Posted 6 Março, 2023 In News, Real Estate, Rental market The association that represents Portugal’s estate agencies and brokers has warned that rents will likely go up despite the Government’ s Housing Package aimed at providing more housing at affordable rents. Paulo Caiado, the president of APEMIP says that there is “speculation with surprisingly high rental charges”, … Read more
Portugal more competitive than Spain
By Essential Business Posted 30 Março, 2023 In Competitiveness, News, Patents Portugal has overtaken Spain in the European Regional Index for Competitiveness because of the way its companies network has focused on specialisation. Portugal has a more competitive economy than six years ago. According to data from the European Commission, Portugal has made substantial improvements in terms of the … Read more
Corticeira Amorim profits up 32%
Portugal’s largest cork producer, Corticeira Amorim posted profits of €98.4 million euros, a growth of 31.6% on the previous year. However, the profits were negatively impacted by a €11.4 tax contingency. In a communiqué to the Portuguese Stock Market Commission CMVM, the company led by António Rios Amorim revealed that sales turnover last year stood … Read more
Housing Package slammed as “attack on private property”
Portugal’s new Housing Package unveiled on Thursday last week was bound not to please anyone. And thus it has proved to be; labelled as “an attack on private property” which showed Portugal was still haunted by its communist 1970’s past. The APPII (Portuguese Association of Property Developers and Investors) has dubbed the government’s leasehold proposal … Read more