Monthly apartment credit costs keep trending upwards

Analysts at Home Broker and Open Finance have indicated that real estate prices are continuing their upward climb. Five times in the last six months the average apartment prices have been higher than a month earlier. The index describing transaction prices in these two firms has risen to its highest level since 2011.

According to Bartek Turek from Lions Bank, apartment prices in Poland’s ten largest cities have risen 7.7 percent compared to a year ago. The average monthly loan installment for buying a two-bedroom apartment is nearly PLN 1,000, while a studio costs around PLN 600. Besides the rising prices of apartments, experts point to deteriorating lending conditions and rising interest rates.

Average monthly installments range from PLN 2,250 a month for a three-room apartment, PLN 1,500 for a two-room flat, and PLN 900 for a studio in Warsaw to PLN 1080-1140, PLN 720-760, and PLN 430-460 for flats of these sizes in cities such as Bydgoszcz, Łódź, and Katowice.

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