According to data published this Friday by the National Statistics Institute (INE), in December 2023 interest payments amounted to 61% of the average mortgage payment, compared to 33% in the previous year.
In December, taking into account all housing loan contracts in Portugal, the average monthly payment was 400 euros, four euros more than in November and 110 euros more than in December 2022 (an increase of 33.8%).
Of this amount (400 euros), 244 euros (61%) are interest payments, and in December 2022 the interest component was only 33% of the average cost of the contribution (299 euros).
The remaining €156 (39%) relates to depreciated capital.
The rise in the Euribor rate (accompanying the rise in European Central Bank interest rates) has led to customers with variable rate loan agreements paying more for their mortgage, leading to many families having to restructure their loan.
In December, the average outstanding capital across all home loan contracts increased by EUR 159 compared to the previous month to EUR 64,597.
At the end of 2022, according to the Bank of Portugal (BdP), 1.5 million housing loan contracts had been concluded.
Author: Lusa
Source: CM Jornal
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