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
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
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
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
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
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
Inflation in Portugal exceeded the EU average in July to hit 9.4% from 8.9% in June. This is according to the EU’s statistics department Eurostat which released the inflation figures for the Eurozone. It is the country with the ninth lowest inflation rate of all the Eurozone countries, but nevertheless was still above the European … Read more
The Portuguese fund ESC Capital that contained assets belonging to the former Espírito Santo Group has been sold to the US fund Davidson Kempner for €850 million. Now awaiting approval from regulators, the news was broken on Friday by Jornal Económico. The sale to DK is likely to be completed by the last quarter of … Read more