Last May, Portuguese banks granted a total of €792m for new housing loans. This figure reflects the impact of the pandemic on the market, and represents a drop of 14 percent compared to the same month of 2019. Along with being below the €831m granted in April, it’s the lowest total recorded since August last year.
Since the beginning of 2020, €4.57bn in home loans have been granted, up from the €4.1bn granted in the same period of 2019, reports Idealista. This month, the average interest rate on new loans granted rose 8 basis points to 1.11 percent. Also according to Banco de Portugal, in the same month, €232m were granted in consumer credit and €157m for other purposes.
