There are compensatory forces between Greece and Eurozone node home loan, Just like in the third quarter of the year, the demand for housing loans in our country it decreased, while the Eurozone as a whole showed a strong recovery, with the central bank “seeing” demand remaining at stable levels for the last quarter of 2024.
As he mentions the Bank of Greece in the statement released yesterday, Tuesday, the demand for housing credit decreased, due to the level of interest rates and the waiting attitude of families regarding the announcement of the subsidized housing program “A Minha Casa II”.
In the EU, on the contrary, “competition was the main driver of net flexibility in general terms and conditions” granting housing credit to families, as mentioned respectively the European Central Bank.
Specifically, according to data announced at the level of EU systemic banks, 39% reported strong mortgage growth – at an even faster pace than in the second quarter – which confirms the recovery in demand as a result start of monetary easing from the beginning of summer.
“In the four largest eurozone economies (Germany, France, Italy and Spain), banks reported a strong recovery in mortgage demand, while Only in two small countries did banks report a decrease,” notes the ECB, with Greece apparently being one of them.
Regarding granting conditions, the criteria for granting credit to families remained unchanged compared to the second quarter of 2024, while the overall conditions for granting credit for housing and consumption also remained unchanged.
Firm demand from companies
The overall demand for loans from Greek companies remained unchanged, and the same trend is expected to continue in the last quarter of the year.
As for the criteria for granting credit to non-financial companies, they remained unchanged compared to the second quarter – an evolution in line with the expectations expressed in the previous quarter’s survey.
Furthermore, banks estimate that the criteria will remain unchanged during the second quarter of 2024, according to the BoE.
Looking at the eurozone as a whole, net demand for business loans strengthened slightly in the third quarter but overall remained low, according to the ECB.
The driving force behind the modest increase was the reduction in interest rates, however, differences are observed at Member State level.
In particular, banks in Germany, Spain and France received increasing requests for financing, while banks in Italy and eight of the remaining 16 eurozone countries experienced reduced demand for business loans. According to estimates for the last quarter, demand for business loans is expected to strengthen further, albeit at a moderate pace.