Source: Freepik Author: Redaction The Portuguese Furniture and Related Industries Association (APIMA) has revealed positive figures for Portuguese furniture exports , which will exceed 2 billion euros in 2023 , an increase of 11% on the previous year and an all-time high . However, despite the exponential results, the cluster has concerns about national and international economic instability. Gualter Morgado, APIMAs executive director, comments: The expected growth for 2023 is in the double digits, and a total value of foreign sales of approximately 2.2 billion euros is anticipated, compared to 1.99 billion euros in 2022. The cluster includes the furniture, home textiles, cutlery, ceramics, bedding, lighting and tapestry industries, and the main destinations for these products are France, with a 32% share, Spain with 26% and Germany with 6%. However, sales to the USA are beginning to soar, accounting for 5.5% of exports in 2023 in this sector. !function(){use strict;window.addEventListener(message,(function(a){if(void 0!==a.data[datawrapper-height]){var e=document.querySelectorAll(iframe);for(var t in a.data[datawrapper-height])for(var r=0;r The segments main concerns are the wars in Ukraine and the Middle East, which it fears will limit the movement of goods by sea . However, APIMA is confident in Portuguese companies , which are prepared to overcome these obstacles [due to] the positive and resilient stance they are taking in the face of this scenario. Its impossible not to be worried, but its imperative to work hard to find market niches, new market segments and new products to get through this phase , says Gualter Morgado. On the other hand, the President of APIMA, Joaquim Carneiro, points out challenges for the sector in 2024 , but also the resilience to overcome them: despite expectations of maintaining turnover, the beginning of this year will be clearly defined by financial instability and cooling consumption in some of the main international markets. This is not a new challenge for companies in the home sector, so the response that has already proved successful will be reinforced. We will continue to focus on high added value, innovation and sustainability as the main distinguishing factors of Portuguese brands. Read also: Transaction cost: understand how it works , Furniture manufacturers denounce price speculation
Source: Freepik Author: Redaction In large cities, a major problem has arisen related to the lack of space to build new infrastructures, which affects their growth and drives citizens away from large urban centres. It is in this context that the Retrofit concept arises, a solution that allows existing properties to be rehabilitated for residential and commercial purposes. This alternative first appeared in Europe , but has become popular all over the world as a revitalisation process that increases the useful life of buildings while preserving their form. What is Retrofit and what is it used for? Retrofit has emerged as a solution to the lack of space for new construction, resolving obstacles in outdated structures or those in inadequate condition, making improvements to the property while preserving the buildings history and structure. This process is especially beneficial for heritage sites whose legislation does not allow the architectural structure to be replaced or modified , thus making it possible to carry out a sustainable restoration that adapts the structure according to new technologies and without losing the original elements. Retrofit can therefore be used in buildings and equipment, for example through the installation of air conditioning, outdated or dilapidated electrical, plumbing or sanitary installations, and fire protection. What are the main advantages? The Retrofit refurbishment process makes it possible to maintain historical heritage and combine it with sustainability, innovation and conservation in large urban areas. In addition, this process makes it possible to increase the value of the property on the real estate market by modernising the facilities, while always complying with safety standards and rules. Retrofit is also a solution that can reduce the propertys maintenance costs, since the structural elements remain the same and only need to be restored rather than rebuilt. This process also extends the useful life of the property, resolving any structural problems that may exist and thus making the property more attractive and more valuable on the property market. How can you apply Retrofit to your property? To apply this process of property restoration, you should always opt for professionals specialised in the area, such as architects or engineers, who can better understand what can be done at a structural and technological level in the building. Care should always be taken to reduce the impacts of the work by analysing the intervention measures in a structured and planned way. When starting the process, these are some of the steps that should be carefully considered: - Impacts of the work; - Project development; - Planning the work; - Creating controlled demolition processes, monitoring the structure of the building; - Adapting the electrical, sanitary and plumbing systems; - Finishes and coatings; - Façade and landscaping. This is a trend that is expected to grow exponentially over the years and is a solution that is increasingly valued by the property market , especially in large urban centres, due to the need to revitalise cities and reuse existing spaces. Did you like this topic? We suggest you read: Want to rehabilitate a property? Check out SUPERCASAs findings or Building a house: what are the specifications?
Source: Freepik Author: Redaction Primary and secondary school teachers, placed in schools in the regions of Lisbon and Tagus Valley and the Algarve, will receive a subsidy of up to 200 euros to pay rents. The support was approved in the Council of Ministers and will be in force until 2025, covering about four thousand teachers, with an estimated cost of eight million euros. The measure, contemplated in the State Budget for 2024 , will only enter into force on January 1 of next year, however, the decree provides for the inclusion of contracts concluded from September 1, 2023 , only applicable to teachers who are placed more than 70 kilometers from home. The Minister of Education indicates that the measure applies to the regions of Lisbon and Tagus Valley and the Algarve, since these are the regions of greatest difficulty to place teachers due to high housing prices . João Costa, Minister of Education, adds that the support will be similar to the extraordinary support to the rents already in force , that is, it will be attributed to teachers whose effort rate is above 35% with housing costs, and to perform this calculation will be considered the charge with permanent housing . The estimate of the guardianship is that this measure will reach about four thousand teachers displaced in these two regions, however, this number may be higher, since it will include all teachers who meet the eligibility requirements for support . Follow this and other topics in SUPERCASA Notícias
Source: Freepik Author: Redaction When you start the process of selling a property, it is essential to find out what it is worth. This is not always apparent and it is sometimes difficult to reach a consensus, as the owners perception may not be equivalent to the propertys real value. As such, it is necessary to take into account all the factors that can increase or decrease the value of the property. Although some aspects are known to most people, there are small details that can influence the value of the house and are not always considered. SUPERCASA Notícias has therefore put together a list of all the topics that will allow you to make a complete analysis of the entire property , taking into account current property market conditions , and thus establish a fair sale value that balances the interests of both the seller and the buyer. What influences the value of a property? When an owner makes the decision to sell their property, there is often an unrealistic expectation about its value, mainly because there is no fixed formula for considering all the factors that stipulate the sale value of a property, and it is up to the property consultant to provide all the necessary data to arrive at the ideal value. These are the factors you need to take into consideration: 1. Location The value of a property is highly influenced by the region of the country in which it is located . A property with the same characteristics will be worth much more if it is located in a central part of the city , especially if it is in one of the metropolitan areas, compared to a property located in a peripheral region or less central cities. 2. Property area The area of the property you want to sell is generally directly related to its value, i.e. the larger the property, the more it will be worth. However, there are valuation differentials that should be taken into account, with the usable area being the most valued, followed by the exterior area, the gross area, the garage area and storage space. A good example of this is the influence that the type of property has on its value, because the larger the type of property, the higher its value will be, as it will have more usable area. The same applies to properties with garage space , a convenience that, for the buyer, will not only save them time when looking for parking, but will also bring greater security, and as such, is a highly valued aspect . The outdoor area is also a relevant factor, with the presence of balconies, terraces or even a garden, which can increase the price of the property by a few euros. 3. Access As well as the geographical location within Portugal being an important factor, the location within the city, namely in terms of access to transport, public services and shopping areas, is another aspect that influences the value of each property. The more amenities there are in the vicinity of the property, the higher its value will be, since these are the characteristics that buyers value most. Another aspect that will increase the value of a property is its view. A property with access and a view of the sea will always be more valuable than a flat overlooking a road or motorway, for example. 4. Quality of materials and finishes The materials used in the construction of a property, as well as its finishes, may seem like small details when compared to the whole property, but they can actually determine the value of the property, since they can give it a premium property classification and, in most cases, imply greater longevity and security for the buyer. If you dont know the type of materials used in your house, you can ask the building company or the condominium . 5. Heating Temperature variations are frequent in our country and, as such , it is essential for many buyers to find a property with an integrated heating and air conditioning system. Although this is something that can be installed later, its an investment of time and money that most people prefer to avoid, preferring to make a bigger investment upfront. 6. Sun exposure The amount and quality of natural light the house receives is a very important factor. A well-lit house, with large windows or many points of light, is much more pleasant and will always have a higher value. If you liked these tips, see also: Property valuation: discover its importance
Source: Freepik Author: Redaction Last Wednesday, 8 November, the winning project in the international competition for the redevelopment of Martim Moniz Square was unveiled , and will be approved at a town hall meeting on 22 November. The project by the FC Arquitetura Paisagista studio, headed by Filipa Cardoso de Menezes and Catarina Assis Pacheco, was chosen out of 21 proposals and aims to transform the square into a huge green space , highlighted by the construction of an amphitheatre and a pedestrian extension, open to the surroundings of the Chapel of Nossa Senhora da Saúde, in place of the road traffic. The proposed intervention is therefore to create a large green space, which will recover the productive vocation that once existed there - when a large part of the square was filled with agricultural land. Proposing a new garden and undoing the barren island was born with the design of a retaining wall, founded on the existing car park slab. This old-new wall will be given a contemporary function, far beyond highlighting the historical heritage: it will be the element that allows the land to rise and support a wide and deep platform of living soil, capable of creating a bioclimatic space that will serve the city, the project reads. For the construction of the pedestrianised route, the pair of landscapers propose that cars, buses, trams and bicycles coming from Rua da Palma should only circulate on the opposite side, on a new two-way cycle path that will connect to the one on Avenida Almirante Reis. To do this, an oval roundabout will have to be built to the south to guarantee traffic flow and the possibility of reversing. Public transport stops and terminals will also have to be concentrated here, creating a clear division between the space for pedestrians and the traffic lanes. Keep up to date with everything thats happening in Portugal with SUPERCASA news!
Source: Freepik Author: Redaction With the return of the cold weather in the final months of the year, many people are already dreaming of next years holidays . SUPERCASA Notícias has put together a list of the best destinations for you to start planning your next holiday. Weve given you suggestions in Portugal, Europe and Asia , so you can expand your options and get to know as many destinations as possible. What are the best destinations in Portugal? Azores The Portuguese archipelago is one of the most popular destinations. This group of nine islands located in the middle of the Atlantic Ocean is known for its natural waterfalls, lagoons and impressive landscapes , where you can walk around and get to know the nature of the islands, and explore the rich and abundant marine life. Faro The Portuguese district, capital of the Algarve, remains one of the best holiday destinations. Discover its beautiful beaches , as well as the Arco da Vila, which gives access to the old part of the city. Here youll find the Arab Gate , the oldest horseshoe arch in the country, and the various churches and cathedrals dotted around the city. And the best destinations in Europe? Sardinia - Italy The island of Sardinia is located in the Mediterranean Sea, just off the Italian peninsula. This island, more than 24,000 kilometres long, is known for its extensive landscapes, where you can enjoy beautiful beach days , as well as stroll through historic villages with castles and ruins by the sea. In addition to its landscapes, Sardinia is known for its incredible gastronomy and low prices. Zadar - Croatia Zadar is a city on the Croatian coast, known for its Roman ruins, medieval churches and museums . Its a vibrant but peaceful city for a holiday by the sea. What about Asia? Discover the best destinations Ho Chi Minh - Vietnam Located in the south of Vietnam, Ho Chi Minh is a fast-growing city full of historical and religious sites . Visit the citys most characteristic buildings , such as Notre Dame Cathedral, the Central Post Office and the Opera House, among others. The city is Vietnams cultural capital and largest economic centre, where you can get in touch with a totally different culture and cuisine. Taipei - Taiwan Taiwains capital, Taipei, is a bustling metropolis, ideal for those who like the hustle and bustle of the city. Here you can find extraordinary skyscrapers surrounded by ancient temples, where you can stroll and shop in the streets of Ximending and sample the cuisine in the huge night markets. About travelling, also read: Coimbra: discover the history and charms of this Portuguese city
Source: Author Author: Filipe Lourenço, Real Estate Specialist Although it has an impact on the luxury segment in which I operate, my reflection this time is on a topic that has strong consequences for all segments of the property sector , and which I dont see properly addressed: the influence of mobility policies (or lack of them!) on housing prices in large cities. Anyone who works in the sector in Lisbon knows what a hassle it is to visit a property. With daily traffic changes and building works in every corner of the city, customer delays add up; if you want to arrive on time, you need twice as much time. And thats just to get there. The same ill-fated headache to get the client to the hotel, to the next destination and, as a result, hours of work are lost, productivity is lost and frustration sets in. Efficient planning and communication would be beneficial for those who live and work in the capital. But the negative impact doesnt stop at the city centre. If we think about urban mobility in an integrated and capillarised way, we see that it is inefficient and does not meet the needs of the population . It forces people to use their own cars and to live as close as possible to the city centre and the large office centres, concentrated between Parque das Nações and Cascais. Its impractical, for example, for a family with children to live in Carregado and work on Av. da República. Better accessibility and supporting infrastructure, such as car parks, are urgently needed. Im talking about public transport, such as trains and the metro, surface lines, integration with buses and even cycle paths - where they make sense - to make the place where you live and work accessible. This would ease the demand for property close to Lisbon and other big cities, leading to a price adjustment and economic development in outlying areas . When people can commute efficiently to work and school, outlying areas become more attractive to live in because they offer a better quality of life . Integrated mobility policies would valorise areas that are currently unattractive because they are peripheral, which would attract investors and families, leading to the development of these regions. On the other hand, such policies would contribute to reducing traffic and polluting emissions , improving the quality of life for all of us. A goal that could easily be achieved with high-speed transport corridors linking cities and regions. This type of measure, which only requires political will, would also have an impact on reducing some potential property speculation in the major centres, while at the same time contributing to the appreciation of more remote areas. Although not a linear rationale, I am aware that the impact of integrated mobility policies, with the involvement of the government and municipalities, on the property market can be complex and multifaceted. They depend on multiple factors, such as the nature of the policies, the economic context and the geographical location of the areas covered. Whats more, the reaction of the property market would not be immediate, but structural and with an impact on the medium-term future. After all, thats what our country needs; measures that are thought out, politically agreed upon and have a positive impact on the future, without worrying about immediate results , which is what got us where we are. Read other opinion articles by the same author: Opinion: Technology in Real Estate and the Old Men of Restelo , Opinion: Property demand checks generic cooling . And also: Urban accessibility: what are the challenges and solutions?
Source: Freepik Author: Redaction Faced with the high growth in property prices , more and more Portuguese are looking for alternatives , and one of the concepts that has generated the most debate and interest is coliving, a new housing and social philosophy. The concept of coliving is a new approach to life in big cities. Its a housing model that encourages people to share a home , even if its with people they dont know. This is a concept that arose from the need to combat the lack of accommodation , especially for young people starting out in their careers and for digital nomads, who are attracted to this type of accommodation because it doesnt require huge costs and contractual obligations. According to the study carried out by JLL , Lisbon and Porto are the European cities with the greatest potential for spreading the concept. Its one of the most promising alternative property segments in Europe. The coliving offer has the potential to grow more than 25 times in our country, concludes the study Portugal Coliving- Follow the Trend, an unprecedented study on this sector, developed in partnership with Joyn, coliving operators. According to the study, it is estimated that the potential demand for this type of housing could reach between 16,000 and 18,000 beds in Lisbon and Porto, in other words, more than 25 times the current pipeline , which includes 50 beds in operation. What are the benefits? Coliving allows for great adaptability to big cities, as well as greater and better socialisation, while promoting a sense of community and contributing to financial savings , since costs are shared by all cohabitants. This new housing paradigm is beginning to weigh on young peoples choices, especially given the high prices on the rental market . The social aspect, as well as the flexibility associated with this concept, gives those who opt for coliving another way to better organise their professional lives. Coliving is also contributing to a new urban map , transforming cities into centres of voluntary attraction to fill the gap caused by the lack of homes for rent. It also works as a very viable alternative and complement to the traditional property market. Is this trend here to stay? Everything suggests that coliving is here to stay , since most young people cant afford to buy a house at an early stage in their working lives. The offer provided by this new concept is also ideal for freelancers or digital nomads , as they can have a shared space without having to take out a mortgage. Did you like this article? Read also: Living in a studio or studio apartment: the advantages and disadvantages or 3 steps to buying your dream home
Source: Freepik Author: Redaction This Monday, the government announced an investment of 22 million euros for the creation of 750 places to respond to the housing shortages that exist within the framework of collaborative and community housing , which has already seen 22 of its projects approved. These projects will be funded by the PRR (Recovery and Resilience Plan), as explained by the executive. Ana Mendes Godinho, Minister of Labour, Solidarity and Social Security, commented: we already have 22 projects approved, with PRR [Recovery and Resilience Plan] funding, for the creation of innovative collaborative housing responses and integration communities, resulting from the need to create new solutions for housing and integrating the most vulnerable people . According to the information provided in the Diário da República, the conditions for organising and operating this community collaborative housing ensure capacity for a minimum of 4 and a maximum of 60 residents, as per the Ministry of Labour, Solidarity and Social Securitys ordinance, which came into force on Tuesday 29 August. This model, which is based on cohabitation through independent housing units, whether flats or houses with common and shared areas, can be managed by private social solidarity institutions (IPSS) , or others legally equivalent. Private organisations that carry out social support activities may also be eligible to manage these collaborative community homes. The Ministry mentions that dozens of applications have been submitted, based on a perspective of inclusion and combating the isolation of people in situations of social vulnerability, highlighting the tender for the requalification and extension of the network of facilities aimed at providing innovative social responses, within the scope of the PRR . Community housing should preferably be located in residential areas in the community and, according to the authority, have easy access whenever possible , with people and public transport vehicles nearby. There should also be no physical barriers that make it difficult or impossible to circulate on the public highway and access the residence. This type of housing can be integrated into autonomous buildings or part of buildings used for other purposes , as long as they are compatible with the operation and organisation of the response , as the ordinance explains. As for the total number of dwellings, the number of studio units may not exceed 20 per cent of the total. Who are the beneficiaries of community housing projects? According to the provisions of the social response, this type of housing will cover various recipients, including elderly people who are included in the national plan for active ageing, children and young people, people with disabilities and people with mental or psychiatric illnesses , as well as other recipients, subject to a proper assessment . However, this project will not only include accommodation, but must also cover a set of support services, appropriate to the individual, family and social profile of the residents , such as psychosocial support, cultural activities and activities that stimulate physical and mental autonomy, or recreational activities, which will be the responsibility of the managing organisations. However, the ordinance makes clear the obligations of these organisations, as well as the rights and duties of the residents, and the conditions for admission. The technical management of the collaborative housing units will be ensured by a technician with a degree in social and behavioural sciences, social work or health, preferably with professional experience or specific training in the area of social support for the population covered . It will also be ensured by a technical team with a flexible number of professionals (...) with adequate training and defined according to the number, profile and needs of the residents . For the government, expanding the response capacity of the network of social support facilities and services is a top priority , justifying the incentive for innovative social housing responses based on a collaborative and community housing model as the main objective of establishing a common experience through a balance between individual privacy and the collective space of each user. Other news you might want to follow: Seixal acquires building to turn into affordable housing , Landlords admit government will limit rents in 2024
Source: Freepik Author: Redaction The Baixo Alentejo is distinguished by the lack of population attractiveness, leading to several challenges that require not only economic but also social decisions. In this sense, the Intermunicipal Community of Baixo Alentejo (CIMBAL), which comprises 13 municipalities, intends to implement strategies to combat this problem, and especially mitigate the trend of population abandonment of the region . For this, and until 2030, the aim is to create 450 homes for accessible housing, in a proposal integrated in the Intermunicipal Plan for the Promotion of Affordable Housing in Baixo Alentejo (PIPHA-BA). This project has already received the endorsement of the CIMBAL municipalities, with an investment of about 22,5 million euros and, according to the PIPHA-BA, this is a measure directed to the working-age population and of intermediate income , since a large part of the population is faced with problems of access to housing, either by the lack of properties in the market, either by the prices charged, incompatible with the income levels of families. According to the PIPHA-BA, the objective is to deepen the articulation between housing policy and urban rehabilitation of the built environment, promoting the rehabilitation and reoccupation of vacant properties, besides the contribution to a greater confidence of owners in placing their properties on the rental market, through dynamics of mobilization and extended cooperation , besides other strategic goals. The CIMBAL strategy consists in the creation of 120 public dwellings for affordable renting by 2026 , and the municipalities involved in this project are Moura , Mértola , Ferreira do Alentejo , Cuba , Castro Verde , Barrancos , Alvito , Almodôvar and Aljustrel . However, in addition to this objective, the creation of 330 more private dwellings is also planned, by PIPHA-BA, through the reoccupation of vacant dwellings for affordable rent . The rest will be secured for construction at controlled costs for sale or affordable rent. The SUPERCASA Notícias brings you every day topics that you can follow: Braga reinforces investment in the Urban Rehabilitation Areas , More than 64% of the properties were identified by the BUPi or 35.8% of the buildings in Portugal need repairs
Source: Freepik Author: Redaction Rising costs are affecting every aspect of life in 2023 and real estate is no exception. High rates of inflation impact businesses - especially smaller businesses and startups - heavily. As their operating costs increase, there is also likely to be greater difficulty in acquiring commercial space in their desired locations, which could limit their ability to grow. At the same time, the demand for high quality office space has been increasing in the last few years , putting greater pressure on rent prices. On the other hand, the period of successive closures, a consequence of Covid-19, has reduced the number of concluded works, delaying construction deadlines and causing material shortages. Savills Research , sent in a statement to SUPERCASA Notícias , shows that between 2019 and 2022, prime office rents will increase in most major global urban centres, despite the disruption caused by the pandemic. Small and medium-sized enterprises (SMEs) are again being hit hardest by this upward trend in values. In many cities, the rise in rents has spread outside of the historic central business districts, with SMEs moving to more remote areas and less attractive buildings. What are the options for protecting and promoting small and medium-sized enterprises which, according to the World Bank, represent around 90 per cent of the business fabric and more than 50 per cent of employment worldwide? Off-the-shelf solutions The emergence of coworking spaces, which offer a full range of services without long-term lease contracts has been a growing trend. In terms of comparing the cost of a coworking space against the net effective value of a conventional prime office, Savills Research found that a coworking space is on average 40 per cent cheaper, although there is considerable variation between locations. Strengthen the ecosystem of startups Flex solutions can, however, be expensive for smaller startups. In this type of situation, public funds are used which, together with private investment, promote the creation of hubs. Incubators and Accelerators Similarly, university incubators support companies and start-ups driven by the university community, leveraging academic talent. For the companies that support these initiatives, it is a valuable opportunity to engage with innovative startups and the talent they attract. Pushed up and priced out In the residential property sector too, affordability pressures are acute. An ageing population and the rise of single households mean intensifying competition for a limited supply of affordable urban housing. Both capital values and rents have been rising, with demand for rental accommodation being exacerbated by recent increases in mortgage interest rates. A new purpose for commercial stock Other opportunities aimed at increasing the availability of affordable housing in town centres include the redevelopment of old commercial stock into new housing. As well as the regeneration of deprived neighbourhoods through a combination of affordable housing alongside commercial property. Alexandra Portugal Gomes, Head of Research at Savills Portugal, says: Lisbon is the perfect example of a destination where the process of internationalisation through tourism, and later the business ecosystem, has put significant pressure on housing prices, the volume of demand for office space and its quality. It is very curious to note that in the post-pandemic period, the opening of mentalities to the practice of more hybrid working models or even 100% remote working has brought a new dynamic to the capital. In Lisbon alone, it is estimated that there are currently around 15,200 digital nomads, who seek to enjoy a slower pace of life, good climate, good gastronomy and an innovative networking environment. Coworking spaces, which are expanding at a high rate, now also mix other concepts into their offer, such as Coliving or vice versa. When a city like Lisbon, a small city with a scarce supply of spaces, receives an uninterrupted movement of new residents, the pressure on costs is inevitable and it is necessary to find new solutions that allow the market to stay in the race and be competitive. Solutions that include increasing the supply of houses at more accessible prices compared to the average national salary, with an increase in residential development in more peripheral areas, but also, and at the level of offices, it is necessary for their stock to gain new life and be able to keep up with these new trends, very much linked to issues of flexibility, hybrid working models and well-being . Continue reading, about Real Estate market: More people move house in 2023 , Braga reinforces investment in Urban Rehabilitation Areas or Opinion: Buying property cools down while competition increases
Source: Freepik Author: Redaction Between January and May 2023 there was a volume of over 107 million passengers in urban public transport , an increase that exceeds by 1% the values reached in the same period in 2019. This shows a greater demand for public transport, since, compared to the same period in 2022, in the Lisbon, Porto and Transjeto/Soflusa metros, the increase was 31%. The Lisbon metro was the one that verified the highest affluence , transporting more than 66 million passengers, however and even so, remaining 5% below the values of 2019 , the pre-pandemic period. The Porto metro managed to exceed the 2019 values by 14% , transporting around 32.4 thousand passengers, and in Transjeto/Soflusa 7.9 thousand passengers were transported, with identical results to the pre-pandemic period. To increase the adherence to public transport, 138.6 million euros had been registered for the Programme to Support Fare Reduction in Public Transport (PART) , under the State Budget Law of 2023. Adding to this, another 50 million euros to ensure the maintenance of prices in force, during 2022, for public transport passes. And another 60 million, to ensure levels of supply in the public transport systems covered by PART, should the need arise due to the loss of demand that the sector experienced due to the effects of the pandemic. Sustainability News that might interest you: Renewable energies guarantee production of 63% of electricity , Green rentals are beneficial for decarbonisation
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