It is just another sign of the strong dynamism experienced in the housing credit segment in Portugal. In April, the total amount of housing loans grew 10.7% compared to the same month of the previous year, a pace well above the European average, which stood at 2.9%. THE stock of this type of credit increased by 1,021 million euros, reaching 114,600 million euros in the period under analysis, according to data revealed this Monday by Bank of Portugal (BdP).
This was one of the biggest growths in the euro zone, and in terms of history it is necessary to go back to February 2003 (23 years) to find such a significant variation, it was only surpassed by Bulgaria (27.1%), Croatia (15%) and Lithuania (14.3%).
Below the region’s average were Germany (2.5%) and Austria (1.7%). And in three countries the variations were negative: Finland, France and Greece.
Neighboring Spain also showed a positive change, but remained at 3.8%.
The high growth in the granting of housing credit has raised concerns for the BdP, which is preparing to take measures a little more restrictive in granting credit. This growth has been driven by public measures aimed at young people, with emphasis on public guarantees and tax exemptions, but also by high housing prices and a strong interest on the part of banking institutions in attracting this type of customer.
As has been happening in recent months, when housing credit grows, credit for the purchase of consumer goods also grows. The amount of loans for consumption and other purposes rose by 216 million euros in April, 9.3% more year-on-year, totaling 34.9 billion euros. Disaggregated, loans for other purposes grew by 9.2% and those for consumption by 9.3%, the highest rate since February 2020.
Amount deposited increases by 4.9%
Growing at a slower rate are the Portuguese savings entrusted to banks. At the end of April 2026, the stock of private deposits in resident banks totaled 202.6 billion euros, 960 million more than in March. This is an annual variation of 4.9%, slightly above the 4.8% recorded in March, and above the euro zone average, which was 3%, the same as in the previous month.
The increase reflects an increase of 421 million euros in demand liabilities (mostly demand deposits) and 539 million euros in term deposits (which include deposits with an agreed term and deposits with advance notice).
It is worth remembering that April was also a month of strong growth in Savings Certificatesanother destination for Portuguese savings, with an inflow of 723 million euros, and redemptions of 186 million euros, which corresponds to a net increase of 537.6 million euros that month.
