The number of new housing credit contracts reached a record value, mainly driven by the financing granted to individuals up to 35 years old with tax exemptions, according to data released by the Bank of Portugal (BdP).
Total value of new housing credit contracts reached €1.676 billion in October, the highest amount since 2014, with almost half of the credit attributed to individuals under 35 years old.
Hiring a personal loan along with a mortgage is a possibility, but it requires caution and financial responsibility.
The data is part of the latest Credit Market Banks Survey, released in October by the Bank of Portugal (BdP), which not only analyzes the third quarter but also presents perspectives for the last quarter of the year.
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The issue at hand is reductions that can amount to €100 monthly.
The improvement that has been felt in the housing market, with new support measures for young people and falling interest rates, brings positive points such as increased sales. However, on the other hand: the increase in house prices as well. Understand better, then.
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The number of real estate properties that were transacted in 2023 was the lowest since 2017, having decreased by 18.7% compared to the previous year.
Mortgage credit demand increased in the Eurozone in the 2nd quarter of 2024: a rise that hadn't occurred since 2022. Learn more about the numbers.
Despite the government's public guarantee supporting young people in obtaining a home loan, the monthly payments on the loans can still be high. Find out analysts' opinions on this issue next.
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