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2019: The Greek banks approved €400 m mortgages

The figures are far from the golden era of mortgage lending that peaked in 2007 with total disbursements exceeding € 16 billion.

This year, at the end of a decade of declining new disbursements, there is an increased demand for mortgage lending compared to the second half of 2018.

According to bank executives, total new home loan disbursements are estimated to exceed €400 m, up from about €250 m last year. As they point out, these figures are far from the golden era of mortgage lending that peaked in 2007 with total disbursements exceeding 16 billion euros. These figures are no longer what the domestic banking system wants, bank executives say. What the banks want is a healthy demand that will ensure a smooth repayment of the loans.

Commenting on low demand for loans, they point out that after a long period of deep crisis, the recovery of mortgage lending comes with a slight lag. At first there is a growing demand for business and then retail banking. In any case, the course of demand is directly influenced by the growth rates of the economy.

Original Source: Euro2day

Translation/Adaptation: Kiki Athanasiadis