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In March 2024

Implicit interest rate on housing loans in the Autonomous Region of Madeira decreased again

According to information provided by Statistics Portugal (INE), in March 2024, the implicit interest rate for all housing loan agreements in the Autonomous Region of Madeira stood at 4.737%, representing a decrease of 0.019 percentage points (pp) compared to the previous month. It is noteworthy that this marks the second consecutive reduction in this indicator, following 22 consecutive months of increase. It should also be noted that in March 2023, the implicit interest rate on housing loans was only 2.935%.

The average value of loan repayments for all housing loan agreements remained unchanged from the previous month, at 416 euros, with interest at 250 euros (down by 1 euro over the previous month) and amortisation at 166 euros (up by 1 euro over the previous month). In the same month last year, the average value of loan repayments was 345 euros.

Meanwhile, the average outstanding amount for housing loan agreements increased for the 11th consecutive month, standing at 64,490 euros in March 2024 (compared to 64,433 euros in February 2024). A year earlier, it was 62,488 euros.

At the national level, and considering all housing loan agreements, the implicit interest rate decreased to 4.613%, 0.028 pp lower than the previous month. The average value of loan repayments for all agreements remained at 403 euros, while the average outstanding amount increased to 65,391 euros (compared to 65,158 euros in the previous month). In the country, interest rates decreased by 1 euro compared to the previous month (247 euros), while the amortised capital increased to 156 euros.

  Credito Habitacao Mar2024 EN

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