In 2019 the Portuguese banks granted a total €10.63 billion in new housing loans, recording an 8.1% year-on-year growth, and corresponding to the maximum of the decade.
Commenting on the data released by the country’s central bank (BoP), the Association of Construction and Public Works Industries (AICCOPN), stressed that is necessary «to go back to 2008 to find a year with a greater volume of credit granted».
By the end of 2019, the total stock of mortgage credit within the Portuguese banks amounted €93.290 billion, showing a slight increase of 0.3% year-on-year.
In December, the average value of housing for bank valuation purposes was 1,321 €/sqm, an increase of 8.3% compared with the 1,220 €/sqm in the last month of 2018.
As for the of credit granted to construction and real estate companies, however, there was an annual reduction of 6.6%, with the new contracts totalling €16 billion in 2019.
Original Story: Eco News | Lusa
Photo: Photo by Svilen Milev for FreeImages.com
Edition: Prime Yield