2003 saw a major increase in the number of home loans issued

Most of the money, over zł.4.4 billion, was borrowed from PKO BP, which granted loans to almost 70,000 people. Representatives of the banking sector believe that people finally believed in the economic revival of Poland. Another factor, which positively influenced this situation, were the falling interests rates and drop in flat prices in 2002. It is also possible that customers were avoiding increasing VAT rates for construction materials, which will come into power after May 2004. Most of the loans were issued in Polish złotys. (Gazeta Wyborcza, pp. 1, 18) M.M.