CGD. "Without public guarantee we had more people camping"

Paulo Macedo, CEO of Caixa Geral de Depósitos, discussed the rising housing prices in Portugal, attributing them to a significant influx of people and a shortage of homes. He emphasized the importance of public guarantees for young buyers, which have facilitated €3.1 billion in loans since 2025. Despite the increase in housing prices, he noted that the construction of 300,000 homes in a short period is unrealistic. Macedo advocated for enhanced rental market dynamics and public housing investment, while also highlighting the bank's support for construction projects. CGD reported a 2.5% profit increase in the first nine months of the year, alongside a 41% rise in home purchase loans.