Polish banks granted some 190.6k new housing loans in 2017 worth PLN 44.57 billion, according to data released by market lobby ZBP. This was the best result in 6 years. In Q4 alone, the banks granted 44.7k mortgages worth PLN 10.93 billion, which was a 0.2 percent q/q drop.
Forecasts for this year are also optimistic with PLN 45 billion worth of housing loans projected.
“The number of new building permits and investments launched guarantees an interesting housing offer in 2018. Such flexibility of developers in satisfying the growing appetites of potential buyers will maintain the trend of systematic price increase recorded since the beginning of 2013 and will ensure stability on the real estate market. The announcements of a quick correction of housing prices, appearing in the statements of some market analysts, seem to be unjustified,” said Jacek Furga from ZBP.