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Housing loans demand up in Q3 2024 for the first time since Q1 2022

08:20 - 06 February 2025

Financial Services Reporter

The net demand for housing loans from households increased in the third quarter of 2024, for the first time since the first quarter of 2022, according to the results of the Central Bank of Cyprus' (CBC) October 2024 Bank Lending Survey (BLS).

Meanwhile, the net demand for loans from businesses remained unchanged compared to the previous quarter, for the second consecutive quarter.

According to the survey, credit standards for loans to enterprises and households and the overall terms and conditions on new loans remained unchanged in the third quarter of 2024, compared to the previous one.

This is the third consecutive quarter in which the lending criteria for housing loans have remained unchanged. As in the previous two quarters, all underlying factors had a neutral impact on the lending criteria for housing loans.

At the same time, net demand for business loans also remained unchanged. Net demand for housing loans increased, while net demand for consumer credit and other lending by households remained unchanged.

(Source: CNA)

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