Bank of Portugal publishes sociodemographic data of borrowers in 2024

Bank of Portugal publishes sociodemographic data of borrowers in 2024

The Bank of Portugal today published the sociodemographic profile of individuals who took out credit from resident financial institutions in 2024. This information was gathered from the data of the Central Credit Register and pertains to new credit contracts entered into with individuals in Portugal, excluding those resulting from credit transfers between institutions.

Data analysis:

Total new credit granted in 2024

• In 2024, financial institutions in Portugal signed 2.2 million new credit contracts with 1.7 million people, totaling 29 billion euros. The number of contracts was similar to 2023, but the total amount increased by 26%.
• 61% of individuals involved in these contracts were salaried workers, and 41% had a secondary education level.
• The proportion of foreign debtors among all individuals who took out new credit rose from 13% in 2023 to 14% in 2024. Half of these debtors were of Brazilian nationality.

Permanent home loan

• In 2024, 90,000 permanent home loan contracts were signed, a 32% increase compared to 2023, involving 138,000 people.
• Half of the new permanent home loans had a value of 130,000 euros or less. Two-thirds of these loans ranged between 50,000 and 200,000 euros. Only 5% exceeded 300,000 euros.
• 80% of individuals who took out permanent home loans were salaried workers, and 53% had a higher education level.
• 22% of the borrowers lived in Greater Lisbon, and 18% in the Porto Metropolitan Area.
• 43% were aged between 18 and 35, an increase of 2 percentage points from 2023.

Other home loans

• In 2024, 13% of the total home loan credit granted was for the acquisition, construction, or renovation of secondary homes, rental properties, or the purchase of land for residential construction. Half of these contracts had a value of 112,000 euros or less.
• 30% of debtors of "other home loans" in 2024 were foreigners, mainly from Brazil (15%), the United States (14%), and Angola (13%). When considering only foreign debtors residing outside Portugal, this percentage drops to 23%.
• Foreign debtors were responsible for 45% of the total value of "other home loans," a decrease from 50% in 2023.

Personal and car loans

• In 2024, 593,000 individuals took out personal loans, with half of the loans being 3,500 euros or less.
• 224,000 car loan contracts were signed, a 12% increase compared to 2023. Of the new car loan contracts, 74% were for amounts below 20,000 euros, and only 1% exceeded 50,000 euros.
• 51% of individuals who took out personal loans were male. In car loans, this figure was 58%.
• 9% of personal loans and 13% of car loans were granted to foreigners.
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This data was released by the Bank of Portugal on March 18, 2025.