The total amount of outstanding loans for house purchases reached €118.021 billion in July. Compared with the same period of the previous year, growth stood at 11%, the highest annual rate recorded since February 2003.

This development shows a marked acceleration in mortgage lending and once again places this segment at the centre of banking activity. The increase in the outstanding balance reflects the net effect of new lending, repayments and other movements in financial institutions’ portfolios.

For households, banks and property professionals, this indicator warrants close monitoring, as it helps to explain the dynamics of home purchase financing. Future developments will depend, among other factors, on access to credit, borrowing costs and demand in the housing market.

Are you planning to buy a home, invest in property or assess the impact of financing? Contact us for accounting, tax and financial support: https://ztlm.eu/en/contacts/