Source: Freepik Author: Redaction COSEC - Credit Insurance Company released on Monday data on insolvencies in Portugal, which skyrocketed in the first quarter of this year. According to the insurance company, the number soared 19.5% and it is micro-enterprises, that is, those that employ less than 10 people, who represent a larger share of the total (67%) , between the months of January and March. More than half of the insolvent companies, representing 52% of the total, have been in business for at least ten years, and it is in the large metropolitan areas that this trend is most evident, with Porto and Lisbon at the top of the analysis. According to the data, it is in Porto that the largest number of insolvent companies (182 companies) and also the largest share of companies in default of their obligations are located. This is a 42% increase over the same period last year. Next is Lisbon, with 120 companies in this situation , which represents an increase of 34% compared to the first quarter of 2023. Also during the first quarter period, it was the services sector that verified more insolvency situations, with 133 cases reported, followed by the textile sector, which changed position with the retail sector, and also the construction sector. Also accompany: Tourism revenues: February registered an increase of 276.4M€ , Portugal is the country most impacted by the monetary policy of the ECB and Portuguese companies have record values of financial autonomy
Source: Freepik Author: Redaction It was during the 2nd Edition of the La Toja Forum - Atlantic Bond, that Carlos Moedas, Mayor of Lisbon, asked the Institute for Housing and Urban Rehabilitation (IHRU) for speed in approving the housing projects submitted. These are projects valued at 540 million euros, with funding from the Resilience Recovery Plan (PRR), which are pending the response of the institute. I can no longer complain to Prime Minister António Costa, but we have already put 540 million applications for IHRU. But now I can no longer complain there, I will complain to the [current] prime minister now to tell him that we need very, very, very - and I think Rui [Moreira] too - in the city councils that these proposals that are in IHRU are approved quickly , said Carlos Moedas, at the conference that brought together the president of the city of Lisbon and Rui Moreira, Mayor of Porto. The two mayors stressed the investments made in strengthening the housing stock, stressing that the challenge faced by the two metropolitan areas is not only to address the lack of housing for the most vulnerable people, but also for working classes such as teachers, firefighters or nurses. The leader of the municipality of Porto also said that the problem of pressure on housing mainly harms the middle classes, who do not have the capacity to acquire a house: at the same time, we created a set of rules that made construction more expensive. Which is a surprising thing. And then, of course, we have to allocate public resources and invite the private to share in this effort. That is, housing has to be a financial market as well. There can be no certainty that only with political funds will we solve the problem, he indicated. According to Rui Moreira, about 13.5% of the population of Porto lives in social housing, with average rents of 58 euros, which represents a cost of 60 million euros per year to the municipality. Thus, it argues that there should be more demand on cities that live on transfers from the central state, unlike what happens with the two metropolitan areas of Porto and Lisbon. And, once again, I will be politically incorrect and say that some of these cities must be forced to affect part of the resources that the central state transfers to them to build public housing. Otherwise, the pressure on Barcelona or on Lisbon or on Porto is enormous because we are building it to have pressure from those who are in municipalities that do not invest in social housing , he argues. He also said that i n the municipalities around Porto, there is only 2% of social housing , while in Porto the percentage rises to 13%: it is not possible. We are creating an artificial migration. We have an artificial migration by other municipalities prefer to build statues than to build social housing,, he says. Related topics: Reduction of VAT on housing: APPII happy with proposal and ECB is preparing easing on restrictive monetary policy
Source: Freepik Author: Redaction The Portuguese capital continues to be the destination of choice for national and international companies to host their operations and, according to information sent to SUPERCASA Notícias , Savills has already been responsible for some of the most iconic placements in the capital since the beginning of the year. One of the most recent deals signed by the property consultancy is the placement of Iniciativability, a company that operates in the Real Estate consultancy sector and was previously located in Sesimbra, in Tower One of the Amoreiras Complex, where it will occupy a fraction on the 2nd floor of this building located on Avenida Eng.º Duarte Pacheco . With architecture that harks back to the 1980s, this asset offers panoramic views over the city of Lisbon . Located next to the Cascais and Sul motorways, its surroundings are characterised by their quick and easy proximity to the main points of Greater Lisbon, with buses and the metro just a few minutes away . According to José Covas, CEO of Iniciativability , in the note to which SUPERCASA Notícias has had access : the lease of a new office in Tower 1 of Amoreiras is a strategic decision that reflects the companys commitment to its business expansion plan and dynamism. This choice not only reinforces Iniciativabilitys presence in a central and prestigious location, but also provides a favourable environment for the growth and development of the team. Sofia Carvalho Costa, Offices Consultant at Savills Portugal, says: Supporting new companies in their process of growth and relocation is what drives us every day. Iniciativability has been growing in the market and therefore needed a more centralised space that was in line with its daily activity. Savills was agile in this process and presented the client with the ideal solution, where the privileged location was key to the outcome of this operation. See also Looking for a house with a terrace? 6 suggestions from SUPERCASA , Santa Villa: new exclusive project in Santa Cruz
Source: Freepik Author: Redaction The proposal Return to the Neighborhood , presented by the Parish Council of Santa Maria Maior, commits to the rehabilitation of vacant municipal heritage to allow the return of families who, due to real estate pressure, ended up evicted. The initiative intends to make housing fires available on an affordable lease to defend the right to live of people who have always lived in this territory , as indicated by the president of the parish, Miguel Coelho. To this end, the application for the transfer of powers to carry out interventions was submitted to the Lisbon City Council, so that the fires can be rehabilitated and placed in the accessible rental market through public tenders. Miguel Coelho underlines that the proposal will respond to the needs of people who were forced to leave the parish, either through evictions or through real estate bullying, economic pressure, but who have always wanted to live here. According to the mayor, the parish of Santa Maria Maior lost about 30% of the population in the last decade, from 12,516 voters registered in September 2013 to 9,011 in March 2024, which corresponds to a loss of 3,505 voters. Follow more related in SUPERCASA Notícias
Source: Freepik Author: Redaction Lisbon City Council will promote the rehabilitation of a building on Estrada de Benfica , in the parish of São Domingos de Benfica, in order to build a new building with 27 homes. To this end, on Wednesday 3 April it launched a public tender to contract the construction of the building, which will be used for affordable housing . The investment totals 5.29 million euros and the contract provides for the rehabilitation of the existing building, as well as its interconnection with a new building, to be constructed, with a total of 27 dwellings , as stated in the proposal signed by Filipa Roseta, councillor for Housing and Municipal Works. The proposal was approved at the private meeting of the municipal executive and is part of the objective of promoting the supply of affordable housing units in the city centre, a goal now defined as a priority by the current municipal executive. To this end, it will receive funding from the Intervention Plan for Dispersed Buildings (PIED), which encompasses a set of properties that are part of Lisbon City Councils assets in different states of disrepair and which will therefore be rehabilitated . According to the proposal, it will also include the construction of a collective housing building with 14 dwellings and the partial rehabilitation/reconstruction of the building with numbers 410-416, which will now have 12 dwellings (two studio apartments + 10 one-bedroom apartments) and a shop. No . 410-416, which will now have 12 dwellings (two studio apartments + 10 one-bedroom flats) and a shop , also stating that this intervention provides for a common entrance to the two buildings (on the ground floor), which has a semi-outdoor covered area and an outdoor uncovered area, and it is on this common ground floor that the technical areas and storage rooms for all the flats are located, as well as a one-bedroom flat. This work will be carried out using a public tender , which involves the appointment of a jury, which will be chaired by the director of the Municipal Housing Department of the Municipal Maintenance and Conservation Directorate, João Vargas. More topics like this: University City will have a new residence with 200 beds , New strategy for the homeless will include social integration or Évora will build 122 new homes with an investment of 26M€
Source: Freepik Author: Redaction A new university residence is to be built on Avenida das Forças Armadas, next to Cidade Universitária , with the construction approved in a resolution by the Council of Ministers on 27 March, the last one led by outgoing Prime Minister António Costa. This residence will be built by the University of Lisbon (UL) and will have 200 beds, in an investment of over five million euros. The rector of UL, Luís Ferreira, points out that the residence should start operating in the first half of 2026 and that the validation given by the Council of Ministers does not represent funding from the government , just a green light to carry out the work, which will be financed by the universitys own funds. On the table is the possibility of partial funding from the Recovery and Resilience Plan (PRR). Regarding the problem of student accommodation that has arisen in recent months, Luís Ferreira points out that this new residence will in no way solve this shortage , but that it represents a contribution towards meeting the needs. Read more about similar topics: New student residence to be born in Famalicão
Source: Freepik Author: Redaction Last Thursday, 28 March, the National Statistics Institute revealed data on the rental market in Portugal , which grew by 4.5% in 2023 compared to the end of 2022. At the end of last year alone, 23,637 new rental contracts were signed, despite an 11.6 per cent increase in rents over the same period. The year-on-year change was thus higher than that seen in the previous quarter, at 10.2 per cent, the sharpest since 2020. According to INE, the median rent for new rental contracts reached 7.71 euros per square metre in the fourth quarter of 2023, representing the highest value in the last four years , and an increase of 11.6% year-on-year, the highest variation since the first quarter of 2020. Compared to the previous quarter, according to the Portuguese statistical office, the median income for the fourth quarter of 2023 increased by 6.6 per cent. Thus, although more families have signed leases despite the rise in prices, the reality is not uniform across the country, with 6 of the 26 sub-regions seeing year-on-year falls in the number of new contracts signed, with the most striking case being in the Douro , with a drop of -13.3 per cent. On the other hand, with growth of over 15 per cent, the West (22.8 per cent) and Baixo Alentejo (15.8 per cent) stood out, says INE. Greater Lisbon and the Oporto Metropolitan Area, without bucking the trend, accounted for 41.7 per cent of new contracts signed. Want to know more about the property and rental market in Portugal? See: New 25 per cent rate will cover all rents received in 2023 and Overcrowded homes: figure is at the highest level since 2010
Source: Unsplash Author: Redaction According to the information that SUPERCASA Notícias had access in a statement, LACS Santos, the fourth of five buildings of the brand, officially opens doors in one of the most emblematic avenues of the city of Lisbon - at number 98 of Avenida 24 de Julho. It promises to combine the decoration of the artist Joana Astolfi with the best global trends in labor markets, to offer a range of flexible services, shared spaces and private offices, in order to welcome and assist in the premium positioning of companies and entrepreneurs. The new bet of LACS for the city of Lisbon is located in the new business axis of the city, in the heart of July 24, with large corporations such as Galp, EDP or the WPP group and has 4,500 square meters of offices, Located on four floors and a Rooftop with a 360º view over the Tagus River, the 25 de Abril Bridge and the National Museum of Ancient Art. LACS Santos is the brand’s major commitment to attract companies and entrepreneurs looking for a flexible office model that evolves with their human resources allocation and business expansion needs. Because the privileged location is not enough, LACS Santos relied on the decoration concept of Studio Astolfi, which drank from global trends for office spaces and coworking, to give LACS Santos a dynamic look and Feel integrated into the history and narrative of the brand. The new hub is intended for all types of companies and aims to be the gateway to new labour market dynamics, increasingly flexible and more productive . The official opening of the fifth LACS building, after last year’s soft Launch, comes at a time when the whole world is focusing on the future of work. The latest World Economic Forum pointed to a shift in the paradigm of work with a very significant increase in digital workers and an emergence of pop-up offices and it is here that our offer gains a latent attractiveness, because we are able to innovate and create a work environment that privileges human interaction between members, showing companies that it is in spaces like LACS that their employees want to be installed. explains Martim de Botton, LACS CEO, in the note sent to SUPERCASA Notícias . Joana Astolfi, architect and interior designer, stresses: architectural and interior design renovations are like resurrections, their goal is to give a new life to each project and prepare the ground for new stories that are yet to happen, keeping alive the wealth of the past. With an approach focused on member needs, LACS remains attentive to the rapidly evolving demands of the world of work, from global to local. Flexible and coworking office plans, its diverse range of services and its member-focused initiatives are some of the factors that solidify LACS’s position as a leader in workspaces, increasingly attentive to the international market to import trends to Lisbon and Porto. In almost six years of existence, LACS has not only witnessed the growth in membership, having already reached more than 3,500 members and 350 companies, but also its organic integration in the surrounding communities where its buildings are based, each with a distinct audience . To officially inaugurate, LACS Santos already has an 80% occupation, including international companies such as Timeleft, AGON, and Moxo Coaching that find in this building overlooking the Tagus River the right positioning for their activity. In addition to resident companies, LACS Santos also welcomes other companies that take advantage of its common areas, such as meeting rooms, lounges and an auditorium with capacity for up to 50 people. Strategically located on Avenida 24 de Julho, LACS Santos offers an environment conducive to the emergence of new partnerships and businesses, with a focus on a corporate community that wants to provide its employees with a dynamic office that facilitates networking between companies, financial institutions and events in the city. Like the other LACS spaces, it is available 24 hours a day, with a great diversity of common areas and services, such as meeting rooms, cafeteria, lockers, pantry, phone booths, yoga studio, auditorium for 50 people and one of the most magnificent views of the city, at Rooftop. Like to know? Read also: February marks strong upturn in office demand
Source: Freepik Author: Redaction The luxury residential market in Portugal continues to grow, with the Algarve, Porto and Lisbon highlighted. These findings are in The Wealth Report , an annual study by consultant Knight Frank, a partner of real estate firm Quintela and Penalva since 2021, which also reveals that one million euros gives only to buy 67 m 2 in Quinta do Lago, while with the same value it is possible to acquire 110 m 2 in Barcelona or 90 m 2 in Lake Como, Italy. The study, sent in a statement to SUPERCASA Notícias , shows that the Algarve is in the top 5 of the world markets in the luxury residential sector, where prices performed best in 2023. According to the study, among the top 100 destinations in the world in terms of price appreciation in 2023, the Algarve appears in fourth position, with a price increase of 12.3%, o nly behind destinations such as Manila (Philippines, 26.3%), Dubai (United Arab Emirates, 15.9%) and Bahamas (15%). With one million dollars, it is possible to buy in Quinta do Lago, in the Algarve, a luxury residence second home with 67 square meters (m 2 ), while with the same value it is possible to acquire 110 m 2 in Barcelona, Spain, or about 90 m 2 in Lake Como, in Italy. The lack of supply and the unique character of Quinta do Lago, explain the sharp growth in prices. Lisbon and Porto continue to grow In the list of cities and regions with annual growth in stable or positive prices are the cities of Lisbon and Porto . The two cities remain on positive ground, with growth in the order of 2.2% and 5%, respectively. Thus, Porto appears in 29th position , ahead of, São Paulo, Rome, Barcelona, Milan or Paris. Already Lisbon, is in 60th place, and surpasses cities such as Dublin, Vienna, Tokyo, Berlin or New York. The Knight Frank study also reveals that the price of luxury real estate in Lisbon is still expected to grow in 2024, in the order of 2.5%, being preceded by Seoul, South Korea, Zurich, New York or Paris. For Francisco Quintela, CEO of Quintela e Penalva, Knight Frank’s partner in Portugal , Lisbon remains on the radar and is in the top 10 of the survey in terms of location for new buyers, as stated in The Wealth Report. The forecast for growth in luxury prices in Lisbon remains very significant, as demand remains very strong in the luxury housing market, particularly in Lisbon, Cascais and Comporta, where the demand for luxury properties has increased significantly . He adds that this reality is mostly corroborated by the interest and realization of business by foreign investors, with high investment capacity. According to The Wealth Report, which tracks the performance of luxury properties in 100 key locations (including cities, sun and ski destinations), 80 locations experienced stable or positive annual price growth. Manila (26%) leads, but last year’s leader Dubai (16%) fell just one place. Asia-Pacific (3.8%) overtook the Americas (3.6%) to gain the title of best-performing world region, with Europe, the Middle East and Africa lagging behind (2.6%). As predicted last year, sunny locations continued to outperform, with an average increase of 4.7%, closely followed by ski resorts (3.3%) and cities (2.7%). According to Knight Frank’s The Wealth Report 2024, the number of UHNWIs in Portugal - those with a net worth of $30 million or more - will increase by 25%, reaching 1000 individuals by 2028. For Kate Everett-Allen, Head of International & Country Research at Knight Frank , in the note to which SUPERCASA Notícias had access, this fact, combined with the expectation that the ECB will start reducing rates in the summer, along with the recovery of the tourism sector in the country, will attract more second home owners and investors. It is thus expected that luxury prices will increase 2.5% in Lisbon in 2024. Follow more topics like this in SUPERCASA Notícias
Source: Freepik Author: Redaction Last Friday, March 22, Iberinform released data on the temporary work sector , which has seen solid growth in recent years. More than half of the companies were founded in the last five years, however, it is the oldest companies that have the highest turnover. The majority of temporary employment companies, 56%, were founded in the last five years, while 27% are between six and 15 years old. Only 11% were established 16 to 25 years ago, and 6% are over 25 years old. However, companies with more than 25 years lead in terms of turnover, representing 40% of the sector , says the consultant Iberinform. In this sense, the most recent companies (with two to five years), hold only 8% of the turnover of the sector , comparable to companies with 11 to 15 years. On the other hand, companies with 6 to 10 years represent 10% of turnover, and those with 16 to 25 years are responsible for the largest share of total turnover, 25%. It is micro and small companies that dominate the sector, with about 89% of temporary employment companies having this size, while only 9% correspond to medium-sized companies. Large companies account for 2% of the sector, however, in terms of turnover, microenterprises contribute only 1%, while small companies earn 23% and medium-sized 34%. Large companies, despite being only 2%, lead in terms of total turnover, with 42%, as highlighted by the data. In addition to these data, it was possible to conclude a significant concentration of temporary work companies in the main urban centers of the country , and the highest percentage, 36%, is located in Lisbon , followed by Porto , with 14%, Braga , with 10%, Setúbal , with 9%, and Santarém with 5%. There is thus a greater liquidity and financial health , since there is an improvement in the efficiency of the accounts payable management . For more related topics, read: 58% of entrepreneurs admit to having social and political concerns , Companies show signs of slowing in recruitment or Trend: fewer companies are born and more close in Portugal
Source: Freepik Author: Redaction The outgoing government of António Costa approved in March last year a project to expand the Metro Sul do Tejo that is now beginning to take shape, and the use of 1.65 million euros has been approved for the studies necessary for the development of the works, possible extension of the Almada metro lines to Costa da Caparica. According to the Lisbon Metro, the project aims to promote a quick and structuring link between the University Campus of the Faculty of Science and Technology of the New University of Lisbon and Costa da Caparica, extending into a corridor that will serve Trafaria, São João da Caparica, Quinta do Torrão, Quinta de Santo António and Costa da Caparica, ensuring a better connection of this territory to the current network of the Metro Sul do Tejo. And they justify: Metropolitano de Lisboa was the public entity chosen by the Government to carry out these works by the national and international experience it has in this field and given the nature of the project, the degree of complexity of the procedures inherent to the implementation of investments in public transport systems on own site (TCSP) of high capacity and the deadlines associated with financing under the Climate Action and Sustainability Program (PACS). In total, the work could cost around EUR 3.1 billion , having been considered a priority by the State, and hence be included in the PACS. More themes like this: Lisbon is the 18th city with the most population in the EU and Lisbon will compensate Lumiar in € 1.14M for cadastral error
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