According to the Bank of Greece's survey on banking loans for the fourth quarter of 2024, the demand for mortgage loans remained nearly unchanged, while the demand for consumer loans also remained stable.
For the first quarter of 2025, the demand for mortgage loans is expected to increase, while the demand for consumer loans is expected to remain unchanged.
During the fourth quarter of 2024, the proportion of rejected mortgage and consumer loan applications remained steady.
Regarding business loans for the first quarter of 2025, banks estimate that the demand from non-financial enterprises (NFE) will remain almost unchanged, although the demand for short-term loans is expected to increase.
In the fourth quarter of 2024, the lending criteria for non-financial enterprises remained unchanged compared to the third quarter of 2024, in line with expectations outlined in the previous quarter’s survey. Furthermore, banks expect these criteria to remain unchanged during the first quarter of 2025.
The overall terms for lending to NFEs also remained unchanged compared to the third quarter of 2024. However, due to improved liquidity and the overall economic conditions of banks, interest rates and the banks' margins for typical loans decreased.
In the fourth quarter of 2024, the overall demand for loans from NFEs increased, particularly for long-term loans, mainly driven by the financing needs of Special Purpose Entities for inventory formation and working capital.
Notably, according to the latest data released by Deputy Minister of National Economy Nikos Papathanasis, 71,374 applications have been submitted so far through the gov.gr platform under the "My Home II" program.
Fifty percent of the applications concern individuals with annual incomes up to €24,000, and fifty percent with incomes between €24,000 and €36,000.
Regarding age distribution, fifty percent of the applicants are aged 37 and below, with the majority being between 25 and 37 years old, while the remaining 50% are between 37 and 50 years old. Preliminary data also show that approximately 40,000 applicants are single.
Of these applications, approximately 500 have received eligibility certificates.
