Housing loan market trends

Banks issued 45,434 new housing loans in Q2 2024, a 28.87% drop from the previous quarter but a 47.52% increase year-on-year, according to the AMRON-SARFiN report. The total value of these loans reached PLN 19.12 billion, marking a 69.19% rise from Q2 2023. The average housing loan value was PLN 423,336, up 1.43% from Q1 2024.

Market disruptions, including the "Safe 2% loan" program, contributed to fluctuating activity. Despite a general credit market decline, housing construction saw some recovery, with a 3.69% rise in apartment construction starts. The share of non-performing loans in housing dropped to 1.92%, signaling improving creditworthiness. However, tightened credit criteria and interest rates at 5.75% have led to cautious market behavior.