The European Central Bank increased interest rates by 25 basis points, bringing the benchmark rate to 2.5%. This decision directly impacts mortgage payments, which have already seen significant increases in September.
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The number of licensed and completed construction works in Portugal has fallen compared to the same period last year. However, the number of residential housing units approved saw a recovery in the second quarter of 2026.
Following the European Central Bank's latest interest rate decision, Euribor rates—the primary index for variable-rate home loans in Portugal—have trended upward again, with impacts extending to corporate lending.
The Portuguese government claims that the 'Construir Portugal' program, launched two years ago, aligns with the European Commission's newly proposed Affordable Housing Act. The EU proposal aims to provide a common framework for defining 'housing pressure' areas, based on rent-to-income ratios, before allowing member states to impose restrictions on short-term rentals (AL).