In December 2024

Implicit interest rate on housing loans in the Autonomous Region of Madeira declined for the eleventh consecutive month

According to information provided by Statistics Portugal (INE), in December 2024, the implicit interest rate for all housing loan agreements in the Autonomous Region of Madeira stood at 4.214%, representing a decrease of 0.108 percentage points (pp) compared to the previous month. It is noteworthy that this marks the eleventh consecutive reduction in this indicator. For reference, in December 2023, the implicit interest rate on housing loans was 4.720%.

The average value of loan repayments for all housing loan agreements dropped by 4 euros from the previous month, reaching 413 euros. Of this amount, 231 euros were the interest payments (down by 4 euros over the previous month) while amortisation remained unchanged at 182 euros (the same as in the last month). In the same month last year, the average value of loan repayments was 411 euros.

Furthermore, the average outstanding amount for housing loan agreements increased for the 20^th consecutive month, standing at 66,606 euros in December 2024 (compared to 66,363 euros in November 2024). A year earlier, this amount was 63,491 euros.

At the national level, and considering all housing loan agreements, the implicit interest rate decreased to 4.091%, down by 0.095 pp over the previous month. The average value of loan repayments for all agreements remained at 403 euros, while the average outstanding amount increased to 68,470 euros (compared to 68,129 euros in the previous month). In the country, interest rates fell by 4 euros compared to the previous month to 230 euros, while amortisation increased by 4 euros to 173 euros.

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