In December 2023

Average value of loan payments in housing loans rose to 411 euros

According to information provided by Statistics Portugal (INE), in December 2023, the implicit interest rate in housing loans in the Autonomous Region of Madeira (ARM) stood at 4.720%, recording an increase of 0.074 percentage points (pp) compared to the previous month. It is noteworthy that, in December 2022, the implicit interest rate in housing loans was only 1.933%.

The average value of loan payments for all housing loan contracts increased by 4 euros compared to the previous month, reaching 411 euros. The interest amounted to 246 euros (an increase of 5 euros from the previous month), while the amortisation was 165 euros (down by 1 euro over the preceding month). In the same month of the previous year, the average value of loan payments was 310 euros.

In turn, the average outstanding amount for housing loan contracts increased, reaching 63,491 euros this month (compared to 63,369 euros in November 2023). One year earlier, it was 61,914 euros.

At the national level, and for all housing loan contracts, the implicit interest rate increased to 4.593%, which is 0.069 pp higher than the previous month. The average overdue payment for all contracts increased to 400 euros, with the average outstanding loan growing to 64,597 euros (compared to 64,438 euros in the previous month). In the country, interest rates increased by 4 euros compared to the previous month, while the amortised capital remained at 156 euros.

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