Never before has so much been borrowed for homes, but the number of applications for new loans predicts cooling

On the other hand, there is a sharp drop in loans intended solely for the renovation of a home or loans for “other purposes”, such as the purchase of a building plot or a garage: – 22.3 percent. The number of loans for the renovation of a home also decreased: -10 percent.

People may be put off by the sharply increased prices of building materials and that renovation is only being postponed. We also see this with loans for the construction of a home: the amount borrowed has risen 24.6 percent, to 210,000 euros. Converted, that is an increase of 41,500 euros since the beginning of 2019, before the start of the corona crisis.

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