More than 10% of credit for purchasing a house was granted to foreigners last year, totalling 1.2 billion euros, according to data from the Banco de Portugal.

Although the weight of foreign debtors in the total number of people who obtained new housing loans increased, from 9.5% in 2022 to 11.7% in 2023, the amount granted to foreigners for purchasing a home decreased by around 6% compared to the previous year.

In 2023, banks financed families with around ten billion euros for the purchase of a home, corresponding to a drop of 24% compared to 2022, which is explained by the sharp rise in interest rates.

Among the foreigners who obtained new credit from the house, debtors of Brazilian nationality stood out, representing 28% of the amount granted to foreigners (27% in 2022).

Debtors from the United Kingdom followed (9%), while debtors of American nationality jumped to third place (6%), surpassing the French.