New tax eating into banks’ profits
The volume of new mortgages came to €1.1bn in the second quarter, a quarter more than in the first quarter and the most since the end of 2022, NBS data show. Their volume is still only half of what it was in 2019-21, before mortgage rates rose. As they are not expected to fall anytime soon, the volume of mortgages will remain limited and property prices will stagnate. Demographic developments will also adversely affect the demand for loans and housing.
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