More than 60% of the amount of mortgage loans taken out in 2022 was for people aged up to 40, who mostly worked for others and had higher education, according to data released today by Banco de Portugal.
The banking supervisor and regulator today released the characterization of people who took out loans in 2022, based on information from the Credit Responsibility Center. In 2022, as usual, the main loan contracted was for housing (for the acquisition, construction or works of own permanent, secondary or rented housing).
Total new credit amounted to almost €28 billion in 2022, of which €16 billion for housing.
According to the Bank of Portugal, in 2022, 169 thousand people took out mortgage loans, two thousand more than in 2021, with two out of three residing in the North and Metropolitan Area of Lisbon.
Most of these clients worked for others and had higher education.
Of the total amount of credit contracted, 61% of the value (around 9,7 billion euros) was for people up to 40 years old.
Up to the age of 30, 19% of new housing loans were granted.
Already 1% of the total was granted to retired people. Of the total housing loans granted to these people, half went to people of foreign nationality (mainly from Brazil and the United States).
In the Algarve region, the proportion of foreign citizens among retirees who took out mortgage loans is much higher, representing 85% (mostly from the United States, United Kingdom and Sweden).
As for other types of credit, in 2022, 538 thousand people took out personal loans, 94 thousand more than in 2021, and 226 thousand people took out car loans, 4.000 more than in 2021.
The majority of customers for these two types of credit were aged up to 50 years, were employed by third parties and had completed secondary or higher education, indicate BdP data.
In these cases, 8% of personal loans were granted to foreigners and in car loans the proportion was 9%. The Bank of Portugal states that “53% of foreigners who obtained personal loans and 70% of those who contracted car loans had Brazilian nationality”.
Last year, banks operating in Portugal signed two million new credit agreements with 1,5 million people, for a total of €28 billion (above 2021 figures).
Also according to the Bank of Portugal, “the number of women who obtained credit was higher than the number of men in all types of credit, except car credit”. However, the banking regulator and supervisor says that the analysis by amount shows that, “with the exception of mortgage loans, the average value of loans obtained by men was higher than the average value of those obtained by women”.
Of the total of 1,5 million people who obtained credit, 11% had foreign nationality (about half had Brazilian nationality and the majority resided in the Lisbon Metropolitan Area).
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