Introduction

The Portuguese residential mortgage market has grown moderately over the last few years due to slow house price growth. What are the current issues facing this market? How are housing policies affecting its performance? Who are the biggest lenders? What will be the size of the sector in the next five years? This report provides the answers.

Scope of this report

Covers the residential mortgage market

Provides market sizing data in terms of gross advances and balances outstanding

Provides competitor market share for the top five players in terms of balances outstanding; a short profile of the top players is also provided

Looks at housing policies and issues in the market

Research and analysis highlights

While mortgage balances have grown steadily in recent years, gross advances have seen a mixed performance as a result of the Portuguese recession. Yet gross advances look to be back on track and are growing again.

Portugal has a very high level of owner occupation compared to other European countries. However, there is also a high level of slowly dilapidating vacant dwellings, largely as a result of migration from rural to urban areas.

The mortgage market is highly concentrated in Portugal, with the top five banks accounting for over three-quarters of mortgage balances in 2004.

Key reasons to read this report

Learn how the Portuguese residential mortgage market has developed over the last five years

Understand the recent developments in the market in terms of regulation, competition and product innovations

Find out It's opinion on the future performance of the Portuguese residential mortgage market over the next 5 years and its future prospects

Table of Contents

ABOUT IT
2

OVERVIEW
3

Market size
3

Future growth indicators
3

Key issues
4

Key market players
4

Product innovation
4


CHAPTER 1 TABLE OF CONTENTS
6

INTRODUCTION
12

What is this report about?
12

Scope of the report
12

Structure of report
12


CHAPTER 2 MARKET CONTEXT
14

Country overview
14

Demographics
16

Population and demographic split
16

Economy
16

GDP
17

Inflation
19

Distribution of income
20

Unemployment
21

Housing market
22

Housing stock
22

House prices
24

Government housing intervention
24

State subsidies
24

Property sales
25

Market data
25

Mortgage interest rates
25

Market size
25

Balances outstanding
25

Gross advances
28

Product lines
29

Market structure
30

Categories of banks
30

Universal banks
31

Savings banks
31

Agricultural credit institutions (co-operative banks)
31

Mortgage market structure
31

Market Structural Overview
31







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