Banks say they are scaling up construction lending, with CGD at €1.6bn and up 22%
Speaking around CGD's results presentation in Lisbon on 5 November, chief executive Paulo Macedo said the bank has lent over €1.6 billion to construction companies, up 22% year on year, and that the shortage — which he put at around 300,000 homes — will not be solved in one legislative term; he also argued rent freezes would keep homes off the market and called for the 25,000 PRR-funded homes to be finished. BPI's João Pedro Oliveira e Costa pressed for industrialised construction, incentives and faster approvals, and BCP's Miguel Maya said the bank has reoriented its property development unit towards moderately priced homes for middle and lower-middle income households.
Why it matters: Development finance is getting easier to raise, and the banks are explicitly steering it at moderate-price residential rather than top-of-market product — which is where approvals and offtake now look most straightforward.