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 Last year was economically difficult not only for the Portuguese but also for most Europeans. The rise in prices, especially in the food sector, and the fall in purchasing power have forced people to adjust their budgets , as evidenced by the results of the European Barometer carried out by Cetelem - a commercial brand of the BNP Paribas Personal Finance group, sent in a statement to the SUPERCASA Notícias newsroom. With 66% of Portuguese saying that food expenditure has increased, there has been a change in peoples consumption habits and behaviour. 30 per cent have had to limit or even forgo spending on food due to lack of financial means. 44 per cent also claim to have given up certain products, such as meat or fish, and to buy fewer environmentally friendly products (46 per cent) , such as organic products. A further 29 per cent said they had eaten out less. In this context, the Portuguese also indicate that they are paying more attention to their food budget (84 per cent) and avoiding food waste (90 per cent). When it comes to shopping, 91 per cent of those surveyed say they are increasingly taking advantage of promotions and special offers and opting to buy products from cheaper brands (83 per cent). More than half of Europeans have stopped buying meat or fish The results of the study cut across all the countries that took part in the survey. More than half of Europeans (55 per cent) have stopped buying meat or fish in order to control spending on food. In addition, 42 per cent of European households have been forced to eat out less. Also, 81 per cent of European respondents say that they are taking greater advantage of promotions and low prices in order to save money this year. This trend is reflected in the market share of food retailers. But this category also includes reducing waste as much as possible (83 per cent), sticking to a budget (77 per cent) and, of course, switching to low-cost and hard-discount brands (58 per cent). Giving up organic products (49 per cent) is also part of this strategy, as is giving up meat or fish (47 per cent) and eating out less (35 per cent). These are some of the ways Europeans have found to make ends meet. Since, as the same survey has already revealed, other increases were felt, particularly in energy bills (66 per cent) and transport (52 per cent) last year. Household and personal goods were also affected, with rates of 54 per cent for clothing and footwear, and 52 per cent for furniture, household appliances, television and smartphones. If youre interested in following more current affairs topics like this, go to SUPERCASA Notícias and explore the available content.
Source: Freepik Author: Redaction During 2023, activity in the national real estate sector was mainly marked by a challenging climate , along with a wait and see strategy on the part of investors. So, according to the Real Estate Market Overview , prepared by Savills Portugal and sent in a statement to SUPERCASA Notícias , discover the main indicators of the national real estate market for 2023. Investment At the end of 2023, Portuguese real estate investment stood at 1.6 billion euros, marking a 50% drop compared to the previous year. This scenario reflects the trajectory observed across the European continent, which has seen a sharp decrease in investment volumes. In 2023, with the exception of the retail and hospitality segments, all the others saw significant drops in investment volumes compared to 2022. Investment in the hospitality sector totaled 571 million euros, demonstrating a clear interest and commitment on the part of investors in this segment. It is important to note that, for the first time, investment in alternative segments exceeded the volume of investment seen in the star and more traditional segments , with investment of more than 100 million euros in student residences located in Lisbon and Porto standing out. In 2023, 79 investment transactions were concluded, 54% of which were signed by national investors, representing 30% of the total volume of real estate investment. Alternative Segments - PBSA (Purpose Built Student Accommodation) This segment has been one of the most dynamic in real estate . In 2023, there was a 3% increase in the number of students compared to the previous year, demonstrating that, despite an uncertain economic context, families continue to prioritize access to higher education, with demand for student accommodation continuing to grow. However, the reality of the PBSA segment in Portugal has been marked by a shortage of student accommodation , which is one of the major challenges facing the government, universities, families and students. The current supply in the cities of Lisbon and Porto is just 3,800 beds, serving only 2% of the total number of students enrolled in higher education in Portugal. There are currently 23 operators in Portugal, offering a total of approximately 9,600 beds. Offices At the end of 2023, the office market in Lisbon had an absorption volume of 112,474 m2, a decrease of 59% compared to 2022 , a trend consistent with other European markets. The year ended with 152 transactions. Prime rents ended the year at €28/m2/month, indicating an increase of 8% compared to 2022. This increase underlines the resilience of all market fundamentals. In addition, the average rent for the Prime CBD zone closed at €23.81/m2/month, reflecting an increase of 9% compared to 2022. Portos office market, on the other hand, had a total take-up volume of 50,048m 2 , reflecting a decrease of 14% compared to 2022. Despite this, the Invicta city maintained a resilient level of activity, recording 64 transactions. Looking to the future, the city of Porto foresees a substantial pipeline over the next two years, covering around 90,000 m 2 . Among the most emblematic projects planned are the Slaughterhouse, VIVA Offices and Mutual. Industry & Logistics In 2023, the Portuguese industrial and logistics market demonstrated robust activity, totaling a take-up of approximately 430,000 m2, with logistics operations accounting for 300,000 m2 of this figure. However, after two years of historic occupancy volumes, 2023 saw a decrease of -16%. In Greater Lisbon, 70% of the Gross Lettable Area (GLA) occupied in 2023 was dedicated to logistics, with 85% of this space exceeding 5,000 m2 and being used by distribution and logistics operators. Meanwhile, in the North & Porto region, the total take-up volume reached 125,111m2, up 4% on 2022, with logistics operations making up 65% of the total volume of closed transactions. With a logistics stock of around 3.3 million m2 in Greater Lisbon, demand for prime assets is becoming increasingly competitive, especially with regard to ESG & Sustainability standards. Retail 2023 proved to be a year of resilience and adaptation for the Portuguese retail market. Despite facing macroeconomic headwinds that impacted private consumption, the retail segment overcame the challenges with innovative approaches. In a context of economic uncertainty and changing consumer behavior, the sectors turnover index contracted by 0.8% over the course of 2023, following growth of 4.7% in the previous year . Portuguese families, who have a greater propensity to save, contributed to the decrease in turnover, reflecting a cautious approach in a context of economic pressure. However, there was room for various retail sectors to prosper, as was the case with food distribution and low-cost non-food retail concepts , which emerged as the most resilient segments, recording growth and defying market downturns. In addition, demand for proximity retail continued on an upward trajectory, highlighting consumers preference for convenience and accessibility. In particular, high street retail saw significant activity, driven by growth in the tourism sector. In cities such as Lisbon and Porto, there was an increase in new high street stores, with a notable presence of brands catering to various sectors, such as catering, fashion and lifestyle. Residential The national residential market has faced significant challenges due to rising construction costs , with a direct impact on the value of properties for customers. The predominant challenge continues to be the cost of labor, largely attributed to its scarcity. At the end of December 2023, construction costs had risen by 1.8% year-on-year. House sales in mainland Portugal, particularly in Greater Lisbon, Greater Porto and the Algarve, fell by approximately 17%, 24% and 25% respectively. The cautious economic scenario also had an impact on the number of dwellings licensed in Greater Lisbon, with a significant drop of 33.6% compared to the previous year. On the other hand, Greater Porto ended 2023 with positive results, showing an increase of 14% compared to 2022. The new Simplex Urbanístico promises to address these issues and simplify licensing processes, but these effects have yet to be felt in the market. As far as the rental market is concerned, Lisbon and Porto have seen price increases and decreases in the number of contracts signed, driven by the rising cost of housing. At the end of 2023, average rental prices peaked in Lisbon and Porto at 19.9 €/m2 and 16.3 €/m2 respectively, reflecting increases of 22.8% and 25.4% respectively. Follow SUPERCASA News for all the relevant topics for the real estate market
Source: Freepik Author: Redaction The National Statistics Institute (INE) revealed this Wednesday, February 28, that consumer confidence indicators in Portugal increased in February, maintaining their upward trend for the third consecutive month. According to the INE report, d espite the economic climate showing a downward trend after the increases seen between November and January, the consumer confidence indicator remained strong and on a positive trajectory between December and February, and the evolution of the indicator is related to the positive contribution of the outlook for the future evolution of the countrys economic situation and the households financial situation, as well as opinions on the past evolution of the households financial situation. In January, this indicator had already shown strong signs of growth , with the balance of consumer perspectives on the future evolution of prices decreasing in February, contributing to the positive performance of the indicator under analysis. On the other hand, as INE reveals, household expectations of making major purchases are negatively affecting the evolution of the indicator, having decreased in services , but increased in manufacturing, construction and public works and trade. Read also: Inflation in Portugal is below the Eurozone and EU average , Portuguese worry about mobility or Retail Incubation Program opens competition for historic stores
Source: Freepik Author: Redaction Promoted by the Portuguese Shopping Centre Association (APCC), the 2024 edition of the Retail Incubation Programme is once again open to applications from historic national shops that want to move their business to shopping centres. These retail units, which are commonly associated with the concept of traditional commerce, may, with a view to expanding their retail business, have the opportunity to test the concept in a shopping centre environment, says the APCC. The initiative is being developed in partnership with the Directorate-General for Economic Activities (DGAE) and the Union of Trade and Services Associations of the Lisbon and Tagus Valley Region (UACS). Historic shops that are interested in this competition can submit their application until 5 April by filling in the online form available on the APPC website. Shops are eligible for the competition if they are engaged in food and retail activities, are classified as historic shops and meet the parameters of sustainability, innovation and originality, as well as having applicability in shopping centre operations and the potential to complement shopping centres. Read other issues of SUPERCASA News: Industry: turnover is falling sharply , Number of municipalities collecting IRC this year rises compared to 2023
Source: Freepik Author: Redaction Each consumer spent an average of 204 euros during the month of December, a figure in line with the average spend recorded in the same period last year (203 euros in December 2022). According to the REDUNIQ Insights report sent to SUPERCASA Notícias , which analyzes the evolution of card payments in the country, there was a 9% growth in business turnover between December 1st and 31st . In this equation, the 13% increase in the number of transactions stands out , which is reflected in the decrease in the average purchase from €36.41 to €35.12. When analyzing the dates with the highest consumption in this period, and compared to the average for the remaining days of December, the Portuguese acquirer concluded that on the 23rd and 22nd there was an increase in turnover of 60% and 48% respectively. On the days closest to New Years Eve, the 30th saw turnover 28% higher than the average for the remaining days of the month . Despite initial predictions that the Portuguese would spend less this Christmas season, the figures now presented show a maintenance in consumption, with slight increases in business invoicing and a higher number of transactions, concludes Tiago Oom, Chief Commercial Officer at UNICRE and official spokesperson for REDUNIQ Insights, to SUPERCASA Notícias . In terms of transactional analysis by geographical area, the most touristic districts all had higher turnover figures than in the same period last year, with growth of 12% in the Azores, 10% in Lisbon, Faro and Madeira, and 8% in Porto . It should be noted that Lisbon, Porto and Faro accounted for more than 50% of the total turnover in Portugal in December. With regard to total turnover by sector of activity , the following categories stood out: restaurants (+17%), hotels and tourist activities (+13%), hairdressers (+12%), fashion (+11%), traditional food retail (+8%), household appliances & technology (+7%), perfumeries (+7%) and toys (+6%), with growth in turnover compared to the same period last year. Find more Economy topics in SUPERCASA News
Source: Freepik Author: Redaction December, the most festive month of the year, is already here, along with the various public holidays that take place throughout the month! This is the perfect time to book a holiday as a couple or with the family and discover the best the country has to offer at this time of year. From lights, decorations, nativity scenes, Christmas markets and gastronomy, SUPERCASA Notícias gives you the best suggestions for destinations this month. Bragança The city of Bragança is hosting the Bragança Christmas Land of Dreams event throughout December. Among the various initiatives taking place in the region are the Trás-os-Montes e Alto Douro natural ice rink with funtrack, the Father Christmas House, the Living Nativity Scene and the Christmas Market. Spending Christmas in Bragança will allow you to enjoy the various museums on Rua Abílio Beça, discover the hidden beauties of Bragança Castle and learn about its medieval history . In this region you can also find a wide range of signposted trails that allow you to get to know the surrounding nature and wildlife. With the arrival of the winter solstice also comes the return of the Winter Festivities , which fill the streets of the villages with colour and animation and perhaps catch a few days of snowfall. Covilhã If its snow you want to see, the best city to enjoy a few days on holiday is Covilhã, located at the entrance to the Serra da Estrela, a place that allows you to easily reach any of the villages in Beira Interior, as well as climb the Tower where you can watch the snow fall from the top of the mountain. Although snow doesnt fall in Covilhã on a regular basis, you can observe the beauty of the Serra da Estrela mountain range, or explore the citys streets, which invite you to discover the urban art that fills its streets with colour. During your stay, we advise you to visit the New Hand Lab and the National Wool Museum at the University of Beira Interior, where the creativity and innovation that has earned Covilhã the status of UNESCO Creative City of Design is promoted. Penamacor In the interior of central Portugal, more specifically in the region of Penamacor, youll find Portugals Largest Christmas Log, which is lit in the churchyard after Midnight Mass, where the population gathers. At this time of year, you can also watch the endless procession of tractors carrying the gigantic logs and get to know the feast of the Immaculate Conception, which culminates in the lighting of the log. The Penamacor, Vila Madeiro initiative includes various activities, such as street entertainment, musical shows and Christmas markets. Piódão Located in the Serra do Açor, in the municipality of Arganil, youll find Piódão, one of the most beautiful villages in the country. Here, youll find a showcase of schist houses with blue windows and doors , surrounded by nature, which takes on an even more special touch at this time of year. When you visit this village, youll enjoy a peace and quiet that you wont find anywhere else , where you can enjoy local handicrafts and the famous Broa de batata. Here, you can also visit the PN3 AGN trail, better known as Açor, and take a stroll along the Piódão river beach, the geological viewpoint and the Miguel Torga Memorial. Take the opportunity to visit the village of Foz de Égua, crossed by a stream known for being similar to a scene from the film The Lord of the Rings. Óbidos If youre looking for a destination on the countrys coast, the town of Óbidos is the ideal place to spend your Christmas holidays . It is here that one of the countrys best-known fairs is held, the Óbidos, Vila Natal initiative, which this year features colourful decorations and scenery inspired by the theme School of Wizards. While you enjoy this Christmas market, you can explore the towns streets, located within the castle walls, drink the famous Óbidos ginjinha in a chocolate cup and visit the many bookshops that make up this UNESCO Creative City of Literature. Read these and other tips in SUPERCASA Notícias
Source: Freepik Author: Redaction Black Friday officially kicks off this weekend , although there are already a number of promotional activities and campaigns taking place during this period of the year. These can be a lure for the more curious, who tend to want to take advantage of the moment to make some investments and save money, even if this is often not the case. There are promotions that, although advantageous, arent that worthwhile, and its important to consider and pay attention to the conditions of the promotion. If youre planning to take advantage of the Black Friday discounts and still keep your spending under control, SUPERCASA Notícias has put together some tips that can help you make good purchases in a considered and intelligent way, without exceeding your budget and incurring losses. Grab a notepad and jot down some of our suggestions so that on 24 November, when Black Friday officially opens, you can go prepared to make the best decisions. Prepare your purchases in advance This advice is valid for any time of year, not just Black Friday. Its essential that you know exactly where youre going, what youre looking for, the amount you want to spend and information about the products you want to buy. This will not only save you time and resources, but will also prepare you for more conscious choices . Its important to define your goals: do you want to buy clothes, electrical appliances, books or other items? Define these goals and prepare a list of the items youre missing . In this way, youll be assertive and get a better idea of your needs when shopping, which is often confusing and distracting. Search the various retailers, compare prices, draw up a wish list and look for additional information about the products. Black Friday isnt always a thoughtful time when it comes to choosing products, especially when youre actually shopping, so its important that you set these goals before you even enter the shops, thinking about what your objectives are and avoiding going overboard. Go shopping early Next Friday, if you go into a shop in the middle of the afternoon, you probably wont find the best deals. This is because there is a huge influx of shoppers at this time of year. So if youre confident that youll find exactly what you want, we recommend lowering your expectations, because many people will think exactly like you, and possibly find every way to grab your most desired goods. To increase your chances of still finding the best deals available, the best quality and the best prices, go early. Whats more, start looking a few days in advance, ideally starting your visits to the shops in the period were currently showing you this article, because many shops are anticipating discounts, and if you really want to find the best investments, its essential to be on top of things . Go to the shops a few days beforehand, check out the prices and make your own judgements. Find out about purchase and return policies and be cautious Its very easy to fall into the temptation to buy just because an advert has caught your eye or because the marketing for that product has had the desired effect, leading you to think you need something when, in fact, thats not the case . Its important not to be dazzled by everything you see, which is also why its important to prepare in advance by making a list of the things you really need . Pay attention to returns policies, especially if youre the kind of person who likes impulse buys, because it will be a big inconvenience if you regret something you buy and then theres no option to return or exchange it. So, before you make a purchase, make sure you can exchange or return it, and find out about deadlines and guarantees , because it may not only be impulse purchases that require you to exchange or return an item: there may be malfunctions, breakdowns, missing equipment or other defects and problems that force you to take this step, so you should safeguard yourself by always knowing the conditions for doing so. And keep receipts and invoices, as you may need them in the future . Did you know, for example, that if you buy online, you can return the item within 14 days? This is something that isnt always possible in a physical shop, as there is no obligation on the part of the retailer to accept returns that arent justified on the grounds of a defect, for example. All these details are important, and its crucial that you protect your rights. Read more articles like this in SUPERCASA Notícias , and discover Tips for saving on presents this Christmas
Source: Freepik Author: Redaction The environment is increasingly a concern, but are companies as sustainable as they claim to be, or are we looking at cases of greenwashing? These days, being environmentally friendly is good for business. However, not all the environmental information provided is what it seems and it is important to understand whether sustainable products, practices and policies really are. After all, what is greenwashing? A study by Pew Research, cited by the IMB Institute for Business Value (IBV), reveals that 72% of consumers in 17 developed countries are concerned about climate change and its impact at some point in their lives. Another IBV report, from 2021, shows that more than 90% of global consumers consider sustainability as a factor when choosing a brand. This growing concern for sustainability on the part of consumers has led several companies to establish environmental policies in order to maintain their reputation and meet the expectations of consumers , who are even willing to pay more for the sake of the environment. Greenwashing happens when a company or organization tries to convey an image of sustainability when, in practice, they know they have a negative environmental impact. In other words, greenwashing is a form of disinformation often used to attract consumers. Examples of greenwashing Products with seals or logos created by brands without any environmental certification ; Use of expressions such as sustainable or zero carbon without an explanation supported by scientific evidence ; Using the term biodegradable for a product that is not; Claiming that a product is recyclable without specifying whether the product, the packaging or both are made from recycled material. The European Commission (EC), in collaboration with national consumer protection authorities, has for the first time carried out an analysis of websites with the aim of identifying violations of consumer rights in online stores. According to the EC, the consumer protection bodies involved in the analysis believe that 42% of sustainability claims were exaggerated, false or misleading. How can consumers identify and protect themselves from greenwashing? When researching a particular product, it is important to check whether there are descriptions that specifically define what makes that product sustainable , as well as certifications issued by independent organizations or European certificates . These types of certifications are awarded to tourist accommodation, for example, as a way of making sure that the product or service is in fact sustainable. Follow this and other topics in SUPERCASA Notícias
Source: Quintela + Penalva | Knight Frank Author: Redaction Quintela + Penalva | Knight Frank, a real estate consultant specialising in the luxury segment, has just expanded its business in Portugal with the opening of a new shop in Porto and a new office in Lisbon , the mediator announced in a statement to SUPERCASA News. The expansion also involves the creation of a consultancy service for clients in the Private segment, which now has a privileged space in Tower 2 of Amoreiras. In Porto, the agency founded in 2004 by Francisco Quintela and Carlos Penalva, opened a new storefront on Avenida do Brasil, which joins the space it has already owned for more than five years in the Avis area. In addition to Porto and Lisbon, Quintela + Penalva I Knight Frank has offices in Estoril, now totalling six spaces with the new openings. Private Consulting with innovative consultancy service in the construction of a property portfolio With the growing sophistication of real estate investments, the internationalisation of the market and the monitoring of increasingly demanding clients, Private Consulting is Quintela + Penalva | Knight Frank s latest bet. This new service allows us to aggregate the services we have developed over the last few years with the aim of offering solutions tailored to each client. We have created a team of consultants with specialised training and who, throughout their professional career, have embraced an international culture ensuring the know-how that this department requires, says Francisco Quintela. Carlos Penalva, in turn, emphasises that with the launch of this Private department, we intend to align our strategy with Knight Frank, with whom we are associated, and also integrate Knight Franks Private department, an innovative consultancy service in portfolio construction and client identification/tracking of high financial involvement. In addition to taking advantage of this extraordinary network, the consultancy intends, with this commitment to Private, to establish new partnerships, such as family offices (consultancy service for families with high assets), private banking (personalised financial products and services provided by a bank or other accredited financial institution) or law firms. Quintela + Penalva | Knight Frank also intends to increase business volume, retain customers, such as those they already have through after-sales rental management services, architectural and interior design consultancy, concierge & relocation, and diversify its portfolio in the investment area, in addition to the residential market. Read more about the property market: Branded Residences to grow 55% grow by 2026 and Algarve is one of the most sought after luxury destinations
Source: Freepik Author: Redaction The months of beach, heat and holidays are just around the corner, with less than a week to go until the start of summer. Festivals are taking place from north to south of the country, including the Santos Populares (Popular Saints), which extend throughout the summer, and there is also a greater affluence in shops and establishments, which materialises in a shopping rush. Why is this? Because the sales season is approaching , and many are the shops that anticipate these promotions, offering their consumers unmissable deals at affordable prices. However, and officially, this season only starts next month. July is the ideal month for various investments , from accommodation, travel, or retail purchases. According to the trends that have been established, and because this is a month when there is usually more flexibility and financial availability to pay for holidays or to commit some extravagance, there are discounts, promotions and unique opportunities that follow this sales season, which begins occasionally, in some shops, in mid-June, and officially starts in the second half of July, and then ends on 15 September. So, make the most of July, as in August the end of summer sales start , where you will have fewer options available. However, you will still be able to find some interesting deals. And, if you have children, this is the ideal period to start looking at back-to-school materials , as well as clothes for the little ones and books at more affordable prices, giving the younger ones a start to the school year in style! Take note of these dates: July 15 to September 15: official summer sales season At the beginning of August: end of summer sales. From 12 to 15 September: start of the 2023/2024 school year Make the most of this summer! Take a look at our suggestions: 4 must-visit Portuguese cities and Campsites: 5 ideas for an adventure in nature
Source: Freepik Author: Redaction A pilot project will start in Loures , promoted by the packaging waste management entity Novo Verde, which aims to encourage recycling and sustainability in the region . It will operate in a commercial area and, for each kilogram of packaging deposited in the collection points existing in the partner retailer, customers will receive a discount of 0.35€, which can be used on the next day after the deposit. This value is associated with the customer card, and is a mandatory requirement to be able to use this new system. Sustainability is a growing concern , with more and more measures for the environment appearing in various municipalities and points of the country. This time it is Loures, which is betting on the promotion of waste separation. The president of the waste and packaging management entity, Ricardo Neto, says: thanks to the systematic search for the development of new and better solutions, a well-designed logistics system, and an awareness campaign that encourages the correct disposal and recovery of packaging waste, this is a promising project in line with the best European practices. As this is a pilot project, the aim is to understand the adhesion , and the number of deliveries will be evaluated according to the amount of waste deposited and the values attributed. Prepared with special equipment, which allows weighing and associating the corresponding values, packages corresponding to the yellow ecopoint, of metal and plastic, are accepted. Ricardo Neto adds, about the project and its sustainable aspect: we continue to encourage and support companies in the adoption of more sustainable and responsible practices, while promoting the circular economy and the reduction of environmental impact caused by packaging waste . On the topic of Sustainability, read: Let sustainability enter your home , Municipalities will receive 30% of the waste tax
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