By Essential Business Posted 9 Outubro, 2023 In News, Salaries In what Portugal’s Prime Minister António Costa called the highest increase in Portugal’s budgetary history, the government will raise the minimum wage to €820 from January. The move adds an extra €60 into the pay packets of Portuguese employees who have seen the real worth of their wages eroded … Read more
By Essential Business Posted 21 Agosto, 2023 In Housing, More Housing Package, News After not raising any constitutional concerns over the Portuguese government’s controversial More Housing programme a week ago, Portugal’s President Marcelo Rebelo de Sousa has now vetoed the policy on political grounds. The reason? He said it was “not easy to see where the promised housing … Read more
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
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
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
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
By Essential Business Posted 21 Julho, 2023 In News, Public debt, Public Finances Portugal’s debt, which currently stands at 113.8% of GDP, saw the third largest fall in debt in the euro area after Spain and France. It fell 10.8 percentage points compared to the same period last year, closing March with a GDP to public debt ratio of … Read more
By Essential Business Posted 21 Julho, 2023 In Commercial Real Estate, Consultancy, News, Offices In the first half of 2023 Lisbon’s office market suffered a nose-dive of 77% in relation to the same period in 2022 and fell 17% in Porto. The Lisbon take-up for the period was 38,000m2 while in Porto it stood at 25,184m2. According to Savills … Read more
By Essential Business Posted 10 Julho, 2023 In Infrastructure, New Airport, News The Technical Commission employed by the government to evaluate nine location choices for the new Lisbon international airport has defined five criteria that will decide the best option. Factors such as aeronautical security, public investment and the financing model will be at the centre of the … Read more
