The BdP released a socio-demographic breakdown of people who took out loans with resident financial institutions in 2024, revealing that half of the new permanent home loans were worth 130,000 euros or less, and two thirds of these new loans involved amounts between 50,000 and 200,000 euros. Only 5% of the loans taken out last year exceeded 300,000 euros.
80% of the people who took out loans for their own permanent home were employed and 53% had a higher level of education. Just over a fifth, 22%, lived in Greater Lisbon and 18% in the Porto Metropolitan Area. Also noteworthy was the increase, by 2 percentage points compared to 2023, in the percentage of people aged between 18 and 35 who took out loans, which represented 43% of the total in 2024.
In 2024, 10.1% of people who took out new loans to buy their own permanent home were foreigners. Among these, Brazilians were the most active, accounting for 38% of international borrowers, followed by Angola (5%), the UK, Italy, France and the USA, all with 4% respectively.
Almost a third of those taking out another mortgage are foreigners
According to the BdP, 13% of the total amount of mortgage loans granted in Portugal in 2024 was for the purchase, construction or carrying out of works on secondary housing or for rental and the purchase of land for housing construction. In this group, half of the contracts had a value of 112,000 euros or less.
It should be noted that 30% of borrowers of other housing loans taken out in 2024 were foreigners, mainly from Brazil (15%), the USA (14%) and Angola (13%). Considering only foreign borrowers living outside Portugal, this figure drops to 23%.
In 2024, foreign borrowers accounted for 45% of the total amount of other mortgage loans taken out, a drop of 5 p.p. compared to 2023, when this percentage was 50%.
Translated with DeepL.com (free version)
