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Comprehensive Analysis of European Mortgage Lending: 2019-2023
In recent years, the European residential mortgage market has experienced significant fluctuations, reflecting broader economic trends and local housing dynamics. By examining both the total mortgage lending and the average lending per capita from 2019 to 2023, we gain a deeper understanding of the property market’s impact on individual citizens and the overall economy of each country.
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๐ง๐ผ๐๐ฎ๐น ๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐๐ฒ๐ป๐ฑ๐ถ๐ป๐ด ๐ถ๐ป ๐๐๐ฟ๐ผ๐ฝ๐ฒ
Between 2019 and 2023, the United Kingdom led the way with an impressive ยฃ1,229 billion in gross residential mortgage lending. Germany followed closely with ยฃ1,020 billion, demonstrating its robust housing market. France also showed strong performance with ยฃ954 billion, while the Netherlands contributed ยฃ560 billion to the European total.
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Italy, despite its economic challenges, managed a respectable ยฃ286 billion, highlighting resilient demand for homeownership. The Nordic countries of Sweden (ยฃ233 billion) and Denmark (ยฃ237 billion) continue to benefit from their stable economies and high living standards. Spain, recovering from earlier financial crises, posted ยฃ207 billion, indicating renewed confidence in its housing market. Belgium (ยฃ166 billion) and Finland (ยฃ125 billion) also reported steady mortgage lending figures, reflecting their stable housing markets.
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In Eastern Europe, Poland (ยฃ50 billion) and Czechia (ยฃ46 billion) showed promising growth, while Portugal (ยฃ54 billion) and Ireland (ยฃ41 billion) demonstrated steady market conditions. Hungary and Romania, both with ยฃ12 billion, are emerging markets, indicating potential for future growth.
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๐๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐๐ฒ๐ป๐ฑ๐ถ๐ป๐ด ๐ฃ๐ฒ๐ฟ ๐๐ฎ๐ฝ๐ถ๐๐ฎ
By examining the average mortgage lending per person, we can gain a clearer picture of how these figures translate to individual financial engagements within each country. Hereโs a detailed breakdown:
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1. United Kingdom
Total Mortgage Lending: ยฃ1,229 billion
Population: 67 million
Average per person: ยฃ18,358
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2. Germany
Total Mortgage Lending: ยฃ1,020 billion
Population: 83 million
Average per person: ยฃ12,289
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3. France
Total Mortgage Lending: ยฃ954 billion
Population: 65 million
Average per person: ยฃ14,677
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4. Netherlands
Total Mortgage Lending: ยฃ560 billion
Population: 17 million
Average per person: ยฃ32,941
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5. Italy
Total Mortgage Lending: ยฃ286 billion
Population: 60 million
Average per person: ยฃ4,767
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6. Sweden
Total Mortgage Lending: ยฃ233 billion
Population: 10 million
Average per person: ยฃ23,300
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7. Denmark
Total Mortgage Lending: ยฃ237 billion
Population: 6 million
Average per person: ยฃ39,500
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8. Spain
Total Mortgage Lending: ยฃ207 billion
Population: 47 million
Average per person: ยฃ4,404
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9. Belgium
Total Mortgage Lending: ยฃ166 billion
Population: 11 million
Average per person: ยฃ15,091
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10. Finland
Total Mortgage Lending: ยฃ125 billion
Population: 5.5 million
Average per person: ยฃ22,727
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11. Poland
Total Mortgage Lending: ยฃ50 billion
Population: 38 million
Average per person: ยฃ1,316
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12. Czechia
Total Mortgage Lending: ยฃ46 billion
Population: 10.5 million
Average per person: ยฃ4,381
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13. Portugal
Total Mortgage Lending: ยฃ54 billion
Population: 10 million
Average per person: ยฃ5,400
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14. Ireland
Total Mortgage Lending: ยฃ41 billion
Population: 5 million
Average per person: ยฃ8,200
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15. Hungary
Total Mortgage Lending: ยฃ12 billion
Population: 9.6 million
Average per person: ยฃ1,250
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16. Romania
Total Mortgage Lending: ยฃ12 billion
Population: 19 million
Average per person: ยฃ632
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๐๐ฒ๐ ๐๐ป๐๐ถ๐ด๐ต๐๐ ๐ฎ๐ป๐ฑ ๐ง๐ฟ๐ฒ๐ป๐ฑ๐ –ย
High Per Capita Lending in Denmark and the Netherlands
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Denmark stands out with a very high ยฃ39,500 per person, the highest among the analysed countries, indicating a highly active mortgage market relative to its population size. The Netherlands also shows a substantial average of ยฃ32,941 per person, underscoring the country’s high property values.
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๐ฆ๐ถ๐ด๐ป๐ถ๐ณ๐ถ๐ฐ๐ฎ๐ป๐ ๐๐ป๐ด๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐ ๐ถ๐ป ๐๐ต๐ฒ ๐จ๐ ๐ฎ๐ป๐ฑ ๐ก๐ผ๐ฟ๐ฑ๐ถ๐ฐ ๐๐ผ๐๐ป๐๐ฟ๐ถ๐ฒ๐
With an average of ยฃ18,358 per person, the UK’s leading position in total mortgage lending is also reflected in its high per capita figure, signifying widespread mortgage engagement among its population. Sweden (ยฃ23,300) and Finland (ยฃ22,727) maintain high per capita lending figures, reflecting robust mortgage markets in these Nordic countries.
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Germany and France: Large Markets with Lower Per Capita
Germany and France, while having high total mortgage lending, show lower per capita figures (ยฃ12,289 and ยฃ14,677, respectively), reflecting their larger populations. This indicates strong overall market activity but relatively moderate individual mortgage engagements.
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๐๐บ๐ฒ๐ฟ๐ด๐ถ๐ป๐ด ๐๐ฎ๐๐๐ฒ๐ฟ๐ป ๐๐๐ฟ๐ผ๐ฝ๐ฒ๐ฎ๐ป ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐๐
Countries like Poland (ยฃ1,316) and Romania (ยฃ632) show emerging market potential with lower averages. These figures highlight the growing mortgage markets in Eastern Europe, driven by improving economic conditions and increasing homeownership.
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๐ฅ๐ฒ๐๐ถ๐น๐ถ๐ฒ๐ป๐ ๐ฆ๐ผ๐๐๐ต๐ฒ๐ฟ๐ป ๐๐๐ฟ๐ผ๐ฝ๐ฒ
Italy (ยฃ4,767 per person) and Spain (ยฃ4,404 per person) exhibit moderate per capita lending, reflecting their resilient housing markets despite economic challenges. Portugal (ยฃ5,400) and Ireland (ยฃ8,200) maintain steady market conditions, indicating stabilisation following previous financial crises.
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๐๐ผ๐ป๐ฐ๐น๐๐๐ถ๐ผ๐ป
The European residential mortgage market from 2019 to 2023 reveals a diverse and dynamic landscape. By combining total mortgage lending data with population figures, we uncover not only the scale of market activity but also the depth of mortgage engagement within each country. This comprehensive analysis provides valuable insights for estate agents, property market analysts, and stakeholders, offering a nuanced understanding of broader European housing trends and their impact on individual citizens.
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