Source: Freepik Author: Redaction Data from the Global Tech Talent Trends 2024 released by Landing.Jobs indicates a decrease from 22.6% to 16% of the number of Portuguese in the IT sector working remotely for companies outside the country in the period of one year, something that has impacted wage gains among domestic companies compared to foreign companies. According to the analysis , the difference between wages fell from 60.1% to 50.8%, and there is also a disparity between men and women, who earn, on average, 36% less in management positions . This is a difference of about 60.9%. The decrease in these figures may be related to the trend that is reversing and that concerns the hiring of IT professionals by foreign companies that usually pay much higher wages than local companies. However, a slight increase in wages is expected this year, around 0.4%, although far from the more than 30% seen in 2022. The slowdown in wage developments could also be linked to the massive market hiring freeze between last year and early 2024 , caused by economic pressures and inflation, leading companies to delay investments. Also read: Coimbra wants to attract more technological investment
Source: Freepik Author: Redaction The Coimbra City Council closed the year 2023 with a loss of 16.4 million euros , a negative net result justified by the constitution of provisions associated with ongoing legal proceedings. Thus, the municipality’s indebtedness capacity grew, with a management balance set at 16.7 million euros , due to the reserve of values that were used for potential compensation in ongoing legal proceedings and that may force the municipality to have to pay them. These are data contained in the accounting documents of last year, approved at the meeting of Monday, April 15, of the executive, which had abstained from the CDU and the PS, with José Manuel Silva, president of the municipality, to declare that this deficit is in line with a national trend towards inflation and price revisions. Against this backdrop, Coimbra City Council Councillor for Finance Miguel Fonseca says: the indicators confirm the financial stability of the municipality, the low dependence on external financing, the net worth as the main source of financing of the asset and the great ability to repay debts both in the short and medium and long term , he indicates. The investment expenses of the municipality result from a current saving of around EUR 16,3 million , as well as a revenue execution rate of 92,1%, which shows strong rigor in management and results from the permanent monitoring of budget execution, observed throughout the year . However, the debt capacity rose from 23.4 to 24 million euros, however, the councilman attests to the the financial stability of the municipality , the low dependence on external financing, the net worth as the main source of financing of the asset and the great ability to repay debts both in the short term and in the medium term. Also follow: Portuguese companies have record values of financial autonomy and Strategic investments will have new incentive system
Source: Freepik Author: Redaction The National Institute of Statistics revealed this Tuesday, April 16, an increase in the tax burden, in nominal terms. This is 8.8% growth, which has set the figure at EUR 95 billion. However, the ratio fell from 36% to 35.8% of GDP, and the Portuguese economy grew more than the tax burden. The INE note reads that revenue from direct taxes increased by 10.7%, mainly reflecting the evolution of income from personal income tax (IRS), which grew by 9.4% , and adds: as for revenue from corporate income tax (IRC), this grew 13.9%, continuing to benefit from the behavior of the Portuguese economy in 2023. In this follow-up, there was an increase in direct taxes with growth of 5.5%, with greater expressiveness of VAT and PSI, with the aggravating of high inflation. On the other hand, effective social contributions grew by 11.7%, reflecting, in particular, the growth of paid employment, wage upgrades and the rise in the minimum wage. The institute also adds that the tax revenues of General Government have been set at 95 billion euros, increasing about 7.7 billion euros compared to 2022, a development that benefited from growth of 2.3% in volume, GDP and the context of high inflation. Despite the indicators, nominal fiscal and contributory revenue growth, which stands at 8.8%, was lower than GDP (9.6%) , while the ratio decreased from 36% to 35.8%, with GDP growing faster than the economy for the first time since 2019, which places Portugal as the country where the tax burden is lower than that of the European Union, which stood at 40.0%. Discover also: Portugal is the country most impacted by the ECB’s monetary policy , Insolvencies increased 19.5% in the 1st quarter of the year
Source: Pexels Author: Redaction According to Knight Frank ’s latest report on the global real estate market, received in a statement by SUPERCASA Notícias newsroom, the average house price continued to rise in the last four months of 2023 . The Global House Price Index now released by London-based real estate and offices on five continents, a Portuguese partner company Quintela and Penalva, reveals that prices are rising at a faster pace since the end of 2022. The report also indicates an average annual growth of 3.9% taking into account the main markets analyzed. Of the 56 markets monitored, only 18 saw prices decrease in the fourth quarter, a decrease from the previous quarter, when 21 markets showed the same trend. The main driver of rising prices has been product shortages in many markets. This is the case in the US, where rising mortgage rates have discouraged potential real estate sellers as they risk having to pay a significantly higher mortgage rate when buying their next home. In addition, this shortage of available real estate was intensified by a slowdown in the delivery of new housing as a result of supply disruptions affecting the construction sector in several of the major markets studied over the past four years. Portugal is in 18th place in the ranking of the fastest growing countries (5.3% to 12 months; 1.2% to 6 months) and with a slight decrease in the last quarter (0.3%), and according to Francisco Quintela, founding partner of Quintela and Penalva, Portugal continues to perform well and attract investors from all over the world . And he adds, in the note to which SUPERCASA Notícias had access: the prices that grow the most are, in fact, in the noble and central areas of the city of Lisbon, regarding the residential market, and the trend should continue throughout 2024. The demand for our country remains solid and Portugal is an alternative for many countries living moments of uncertainty. Follow more topics like this in SUPERCASA Notícias
Source: Freepik Author: Redaction The most recently released Eurobarometer, exactly fifty days before the European elections, shows a decrease in quality of life in the last five years, with Portugal being one of the countries of the European Union (EU) in which this trend is more pronounced. The end of the pandemic, the start of the war in Ukraine and the effects of inflation have had significant impacts on the lives of all European citizens, who have experienced a drop in quality of life since the last five years, and Portugal is one of the nine EU countries where this trend is more pronounced , with most respondents admitting to experiencing economic difficulties, namely through difficulty in paying bills. In the Eurobarometer published on Wednesday 17 April, 26,411 citizens from 27 Member States and 1,032 at national level were heard, with 56% o f the national sample admitting to experiencing a negative evolution in quality of life since the last European elections, that took place in 2019. The percentage is higher than the European average, which is set at 45%. On the other hand, 49% of the Portuguese say they have not felt the changes, compared to the 6% who say that their quality of life has grown in the last five years. Behind Portugal is Greece, with 74%, France, with 69%, Cyprus, 63%, and Spain, with 58% , with averages representing the negative impacts of the crises felt in Europe. 41% of Portuguese have no hope that quality of life Regarding the prospects for improvement for the coming years , the forecasts are not encouraging, and according to Eurobarometer, 41% of the Portuguese heard think that their quality of life will continue to worsen in the next five years, while 38% does not foresee any change in their living standards. Only 13% of the Portuguese believe in an improvement. The state of the Portuguese economy is also a concern of the Portuguese, and, 33%, anticipates a negative evolution, 35% does not believe in any change, compared to the 23% that predicts improvements in the economy in Portugal in the next five years. Related: Increased well-being in Portugal has an impact on consumption in GDP
Source: Freepik Author: Redaction Eurostat confirmed on Wednesday, April 17, the slowdown in the annual inflation rate of the Eurozone in March, which stood at 2.4%. In February, this rate had been 2.6%, which represents a drop of 0.2 percentage points. In the European Union (EU) the scenario was also one of fall, with the annual inflation rate going from 2.8% to 2.6%. According to the official European statistics office, annual inflation fell in 13 EU Member States compared to February , showing stability in four and rising in ten. For Portugal, the annual change in the harmonised consumer price index in March stood at 2.6%, similar to the EU average , and above the euro area average. Compared to February, this is also an increase. On the other hand , the lowest inflation rates in March were in Lithuania, with 0.4%, in Finland, with 0.6%, and in Denmark, with 0.8%. Romania, Croatia, Estonia and Austria had the highest inflation rates, with 6.7%, 4.9% and 4.1% in both countries, respectively. Read more: BdP reveals that bad loans are at a minimum , Insolvencies increased 19.5% in the 1st quarter of the year and Households in the Eurozone are saving more compared to 2022
Source: Freepik Author: Redaction Banco de Portugal recently released data for non-performing loans in Portugal, which reached a minimum of 250 million euros in February . Behind this debt slowdown is the reduction in exposure to bad loans by banks that, in the last financial crisis, reached an amount above EUR 2 billion. The default in mortgage loans was one of the trends of the last economic crisis in Portugal , leading to that, in June 2016, at a time of crisis, the amount of loans for housing at 2,629 million euros, a maximum since 1998 and beginning of the series. Thus, banks have maintained the recommendations of Banco de Portugal and proceeded to the sale of bad loans, helping several families to reduce their exposure to real estate , an effort that resulted in the fall of the amount of overdue housing loans , reaching 238 million euros in December last year, which also represents a historic minimum of defaulted housing loans, even despite high interest rates. In this way, the amount of housing loans increased slightly between the end of last year and February of this year, to almost 250 million euros, however, the balance is positive, with Portuguese banks managing to reduce the amount of defaulted housing loans to 2,379 million euros. Read more about economy and housing in SUPERCASA Notícias
Source: SUPERCASA Author: Redaction The Portuguese coastline is one of the richest geographical areas in Europe. Considered as the gateway to this continent, the coastline of our country offers a diverse and charismatic panoply of iconic locations, beaches that do not end and access to the great urban and cosmopolitan Portuguese centers. It is in the coastal strip that you find the best professional opportunities and the largest number of people of all ages, who maintain their proximity to the coast and to the rich Portuguese maritime heritage . You will find one of the most beautiful landscapes in Portugal, as well as a variety of extremely diverse species of fauna and flora, and a differentiating quality of life. If you are looking for a home and are committed to finding the perfect property for you and your family , SUPERCASA is the right property portal to find it! See the 8 options we have selected for you. House T3 in Argela, Viana do Castelo - 250.000€ Semi-detached house T3 + 1 in Lagoa, Algarve - 339.000€ House 3 Bedrooms in Peniche, Leiria - 389.000€ 2+1 bedroom apartment in Loulé, Algarve - 399.000€ Apartment T2 Duplex in Portimão, Algarve - 410.000€ 3 bedroom apartment in Nazaré, Leiria - 425.000€ House T3 Duplex in Caldas da Rainha, Leiria - 515.000€ House T2 Duplex in Vila do Bispo e Raposeira, Algarve - 595.000€ And if you liked these suggestions, you may also like the following: Looking for a house with terrace? 6 suggestions from SUPERCASA , Live 10 minutes from the beach? Realize this dream with SUPERCASA or Living by the sea: turn this dream into reality
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