Apartment sales 300% higher and demand for mortgage increases 4-fold - HREIT

Poland's housing market is experiencing an unprecedented boom with a surge in apartment sales and loan applications. Compared to a year ago, apartment sales have almost tripled, while loan demand has increased fourfold, according to a report prepared by HREIT.

Factors contributing to this trend include a low base from the previous year, easier access to loans, and government housing initiatives. In August alone, Poles applied for housing loans worth approximately PLN 16 billion, nearly four times more than in August 2022. This high demand has caused banks to struggle with processing applications, as they initially anticipated a significant drop in loan demand. The shortage of available apartments has given sellers the upper hand in dictating terms.

Source: WBJ