Banks may issue about 125k home loans in ‘22, and 80-85k in '23 - ZBR

The number of home loans will drop to 125,000 in 2022, the lowest level in 20 years, and lending activity may reach 80-85,000 in 2023, according to Jacek Furga, Chairman of the ZBP Housing Finance Committee.

"We are clearly moving toward stabilization of transaction prices, which could last for at least the next two-three years. With high inflation, it would mean an actual decline in housing prices in real terms. In turn, once potential buyers become accustomed to high mortgage rates, could lead to lending remaining at the levels seen last quarter. On an annualized basis, that would mean a result of about 80-85 thousand loans in 2023. Of course, much depends on the situation beyond our eastern border and the settlement in the Polish government regarding the use of European funds," - estimated Furga in a report by the AMRON Center, published by the Association of Polish Banks.

The AMRON-SARFiN report shows that the third quarter of 2022 brought a further dynamic decline in the number of home loans issued.

Source: PAP