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Custos altos para construir casa? Conheça o crédito habitação para construção

High costs to build a house? Discover home construction credit.

As interest rates have risen, so have the costs of building properties, making it difficult for Portuguese people to access housing. The costs of building a house have increased again in August, but there are options to facilitate this process. Learn about housing construction credit in this article.

17 Oct 20234 min

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Let's move forward with buying land to build the house you've always dreamed of? This is possible through home construction credit. Contact the credit intermediaries from Poupança no Minuto at https://www.poupancanominuto.com/ to simulate your specific case and access free assistance throughout the entire process.

Costs to build a house increased by 2.5% in August

Construction costs have been rising along with interest rates, monthly. It was in August that they rose again, now 2.5% compared to the value observed in the previous month.

"In August 2023, it is estimated that the costs of new housing construction have increased by 2.5% year-on-year, which is greater by 0.4 percentage points (p.p.) than observed in the previous month," as we can read in the publication on the Notícias ao Minuto website.

In addition, "the price of materials showed a year-on-year variation of -0.7% and labor costs of 7.1%".  

So, just like interest rates, the cost of building houses has also been increasing, so the Portuguese are facing even more difficulties in accessing housing in the Portuguese real estate market.

Is the budget also insufficient for building a house? Learn about home loan for construction.

The budget is not enough? Opt for a construction housing loan.

For the construction of a house, it is also possible to resort to financing, through a home construction loan.

This type of loan allows for the purchase of land for the construction of a project, based on the approximate cost to build.

What are the differences between a mortgage for construction purposes?  

Construction home loan is similar to a normal mortgage, with the difference being that the loan amount is released in tranches (between three and six) parallel to the progress of the construction. During the initial period, ranging from 24 to 36 months, you have access to capital repayment holidays and only pay interest.

Regarding other distinctions, the approval of home construction credit can be more demanding as the guarantee given is only the land, and the value is released according to what is being built on it. Also, the evaluation works differently: it is based on the architectural project.

Regarding conditions, the repayment period can be longer than for a home loan on an already built property, with lower interest rates. However, the conditions always depend on the bank where you apply for credit.

To apply for credit, do I need to have a viable plot of land beforehand?

Yes, in order to get a home loan for construction, you must already have a chosen land with feasibility for building. The ideal situation is to have an approved project by the city council.

However, it is not mandatory: you can request the loan without a project, but it will be an even slower process to approve. If urgency is a factor, look for a plot of land with feasibility and already approved for construction in advance. Thus, it will be easier and more likely for your construction credit to be approved.

A credit intermediary can expedite the process

If you are considering advancing to a home construction loan, whether or not you have an already approved land, know that a credit intermediary can streamline the entire process.

To have more possibilities of guaranteeing the approval of the financing and making the process faster, a credit intermediation service mediates the communication between a client and the banks.

Credit intermediaries from Savings in a Minute can find the best financing conditions for buying land and building your dream home.

Don't postpone your project any longer: Start building your property as soon as possible, with the help of our free and completely personalized services for you! 

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Eleito Produto do Ano 2025
Poupança no minuto

Financefy S.A. Credit Intermediary registered with Banco de Portugal (Bank of Portugal) as nº 0006860

Financefy - Mediação de Seguros Lda (Insurance Mediation Ltd), registered at ASF as nº 423578365


Poupança no Minuto is a brand owned by Financefy, S.A., a linked credit intermediary registered with the Bank of Portugal under number 0006860. Services authorized to provide: Presentation or proposal of credit agreements to consumers. Assistance to consumers, through the performance of preparatory acts or other pre-contractual management work in relation to credit agreements that have not been presented or proposed by the company. Lenders: Bankinter, S.A. - Branch in Portugal, Caixa Geral De Depósitos, S.A., Banco BPIi S.A., Banco Santander Totta, S.A., Abanca Corporación Bancaria, S.A., Branch in Portugal, Banco Ctt, S.A., Novo Banco, S.A., Cofidis, BNP Paribas Personal Finance, S.A. - Branch in Portugal, Real Estate Credit Union, S.A., Credit Financial Establishment (Sole Proprietorship) - Branch in Portugal, Bni - International Business Bank (Europe), S.A., Banco Bic Português, Sa, Unicre - Credit Financial Institution, S.A.