Housing loans maintained their acceleration trajectory in July, increasing by 8.1% year-on-year, the highest growth since August 2008, reaching €106.325 billion, according to data released on August 28, 2025, by the Bank of Portugal (BdP).

“The stock of housing loans increased by €986 million compared to June, totaling €106.325 billion at the end of July. Compared to the same month of the previous year, the acceleration trend continued, with growth of 8.1%, the highest since August 2008,” detailed the central bank.

In July, the total amount of loans to individuals grew by 8.0% compared to the same month in 2024, also the highest annual growth rate since August 2008, totaling €139.133 billion, €1.144 billion more than in June.

Consumer and other-purpose loans increased by €158 million compared to June, reaching €32.808 billion, and rose 7.7% year-on-year, below the 7.9% recorded in the previous month.

According to the BdP, the annual growth rate was 7.0% for consumer loans and 9.0% for loans for other purposes.

At the end of July, the stock of personal credit amounted to nearly €13.050 billion, €73 million more than in June, corresponding to year-on-year growth of 7.2%, the same as in the previous month.

Car loans totaled nearly €8.816 billion, €72 million more than in June, with an annual growth rate of 9.9%, while credit card debt reached nearly €3.260 billion, down €26 million month-on-month, with an annual growth rate of 7.7%.

As for the stock of corporate credit, at the end of July it stood at €74.246 billion, €113 million more than in June, with year-on-year growth of 3.5%, representing a “slight slowdown” compared to the previous month (3.6%).

Micro, small, and large companies maintained positive annual growth rates (12.0%, 2.2%, and 0.8%, respectively), while medium-sized companies continued to register a negative rate (-2.6%), according to the BdP.

Credit to the construction and real estate activities sector maintained its acceleration, with the annual growth rate reaching 7.6% (7.1% in June).

In commerce, transport, and accommodation, the annual growth rate was 1.8%, with different behaviors within this group: credit to accommodation and restaurants and credit to commerce grew compared to the same month of the previous year (2.9% and 3.0%, respectively), while credit to the transport and storage sector decreased year-on-year (-2.9%).