New housing loans on the rise: banks lent 1,295 million in June

Banks continue to show their willingness to finance house purchases in 2021. In June, the volume of new mortgage loans totaled 1,295 million euros, less than in the previous month (1,314 million), but more than in the same period of the previous year (833 million). This is one of the highest figures in recent years, according to data released this Monday (August 2, 2021) by the Bank of Portugal.

“In June 2021, the volume of new loan operations for housing, consumption and other purposes totaled 1,295 million, 420 million and 223 million euros, respectively,” reads the Bank of Portugal (BDP) website.

It should be noted that the amount of new housing loans in June is only less than that recorded in May (1,314 million) and March (1,382 million), and you have to go back many years, to April 2008, to find a higher figure (1,299 million). What's more, since March 2021, the amount granted per month has exceeded one billion euros.

In cumulative terms, i.e. in the first six months of the year, banks granted 7,178 million euros for house purchases, the highest figure since 2008. To give you an idea, 5,342 million euros were lent for this purpose in the first half of 2020.




Source: idealistanews