Number of foreigners seeking bank loans rising
In total credit granted in Portugal in 2022, 11.4% of the amount went to people of foreign nationality (up from 9.36% in 2021).
The proportion of foreign people in the credit granted by banks grew between 2021 and 2022, representing more than 16% of credit granted to people between 41 and 50 years old and 45% to people over 61 years old, according to the Bank of Portugal.
In total credit granted in Portugal in 2022, 11.4% of the amount went to people of foreign nationality (up from 9.36% in 2021).
Among customers of foreign nationality who obtained credit, most went to people with a nationality of Brazil (25%) and the United Kingdom (10%), similar figures to 2021.
In home loans alone, foreign nationals accounted for 14% of the total amount borrowed in 2022 (up from 10.81% in 2021).
The leading nationalities were Brazil (20% in 2022 and 21% in 2021) and the United Kingdom (12% and 13%, respectively).
In 2022, nationals from the United States came in third place (9%), followed by those from France (8%) and Angola (7%).
There is also a noticeable increase in the weight of loans to foreigners as the age bracket rises.
In 2022, foreigners represented only 6.77% of mortgage loans to people aged 18 to 30, but 11.8% of loans to people aged 31 to 40.
In the 41 to 50 age group, foreigners obtained 16.4% of total mortgage credit and in the 51 to 60 age group the proportion was 27.8%. Over the age of 61, 45% of all mortgages went to foreigners in 2022.
