The 12-month Euribor rate, a key benchmark for variable-rate home loans, has surpassed 3%. This follows a sustained period of rising rates across all maturities, with further interest rate hikes from the European Central Bank expected.
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Former Finance Minister and ex-central bank governor Mário Centeno criticized the government's public guarantee for housing loans, claiming it has reversed financial stability policies established in 2018. He notes that loans with a loan-to-value (LTV) ratio above 90% have surged to 19% in 2025, and high-risk loans rose to 21%, effectively undoing years of central bank macroprudential efforts that had brought these figures to near zero.
The new Simplified Affordable Rent Regime (RSAA) officially entered into force on September 1, 2026, but it remains non-operational. The government has yet to publish the mandatory decree (portaria) defining maximum rent limits, and the IHRU digital platform required for landlords and tenants to register is not yet active.
The European Commission is presenting a proposal to establish common criteria for member states to define areas of 'housing pressure' and regulate short-term rentals like Airbnb. The framework aims to ensure that any local restrictions are justified and proportional, while explicitly excluding primary residences from these measures.