Stock of home loans up 8.1% in July to to €106.3 million

Mortgages in Portugal grew by 8.1% in July like-for-like on 2024 – the highest growth since August 2008, to €106.2 million by the end of July according to the Bank of Portugal.

“In July, the total amount of loans to individuals grew 8.0% compared to the same month in 2024, also the highest annual rate of change since August 2008, totalling €139,133 million, €1,144 million more than in June”, states the central bank.

Consumer loans and loans for other purposes increased by €158 million compared to June, to €32,808 million euros, and rose 7.7% compared to the same month last year, below the previous month (7.9%).

According to the BoP, the annual variation rate was 7% for personal consumer loans and 9% for other ends.

At the end of July, the stock of personal credit totalled close to €13,050, 73 million more than in June, corresponding to a year-on-year growth of 7.2%, identical to that of the previous month.

Car loans totalled almost €8,816 million, €72 million more than in June, and registering an annual variation rate of 9.9%, while credit cards reached close to €3,260 million, €26 million less MoM and an annual variation rate of 7.7%.

As for the stock of credit to companies, at the end of July it was €74,246 million, €113 million more than in June and a year-on-year growth of 3.5%, representing a “slight slowdown” compared to the previous month (3.6%).

Source: Bank of Portugal