House purchasing: Portuguese seek cheaper homes with higher financing.

Looking for a house to buy with a housing loan? We offer both services for you! Contact the real estate agency Casa no Minuto for the search and acquisition of your ideal property, and the credit intermediaries from Poupança no Minuto for the proposal of credit suitable for you. But first, get to know the relevant data below.

Portuguese people are looking for cheaper houses for purchase and with more financing.

Study by Idealista, quoted by Notícias ao Minuto, reveals that Portuguese people sought to buy cheaper houses and with more financing from banks in the 4th quarter of 2023.

"Families residing in Portugal continued to buy cheaper houses and hire housing loans of lower value at the end of 2023, in order to adapt to the current context marked by high housing prices, interest rates, and cost of living," reads the news shared about the study's conclusions.

Regarding financing, housing loans for buying a house, those with "mixed rates are the most contracted" by Portuguese and non-residents, with "35.5% of contracts" allocated "for the purchase of the first home," the news article states.

The study also indicates that "the average cost of the first house is 223,953 euros, a value that is 14.1% lower compared to a year ago".

"This shows that the Portuguese continue to buy cheaper homes that are compatible with their family incomes - a trend that has been observed throughout the year. And also that they decide to proceed with the acquisition of more affordable homes than non-residents," the news reports.

Other study data regarding home buying in Portugal conclude that the "average income of Portuguese who bought their first home (3,835 euros) is two times lower than that of foreigners and emigrants", therefore "one in five home loans were taken out by non-residents".

If you are looking for a house to buy in 2024, with access to housing credit, ask for help! Contact the real estate consultants of the agency Casa no Minuto to find your property, negotiate the purchase price and handle all the bureaucracy, and the credit intermediaries of Poupança no Minuto who present you with several financing proposals and, free of charge, accompany and help you decide which is the best housing credit for you.