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Reduced demand for mortgages

31 JANUARI 2023
Onderwerpen
Bancos Crédito Hipotecário Avaliação Bancária Empréstimo à Habitação Crédito Habitação
Data from the Bank of Portugal predicts a reduction in the demand for home loans by private individuals in the near future.
Reduced demand for mortgages
Source: Pexels
Author: Redaction

The last quarter of the year saw a decrease in demand for home loans, a phenomenon that is justified by lower consumer confidence and, for the coming months, a "particularly sharp reduction is expected in the housing segment", according to data from the Banco de Portugal's Bank Lending Survey.

In addition to the housing sector, banks are also reporting reductions in consumer credit and other lending, which covers not only individuals but also, slightly, Small and Medium-sized Enterprises (SME), for long-term loans. This trend, however, was not seen in companies, which increased the demand for short-term home loans due to "increased financing needs for inventories and working capital, as well as refinancing or debt negotiation in the case of SMEs".

For banks, the concessions of housing loans to individuals and SMEs have been gradually tightened, due to the current fluctuating economic situation, and the credit conditions have also suffered a slight increase in spread.

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Onderwerpen
Bancos Crédito Hipotecário Avaliação Bancária Empréstimo à Habitação Crédito Habitação
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