20:40 18 February 2025
Min of Development and Technology outlines limits of first keys program
Minister Krzysztof Paszyk has introduced more details of the "First Keys" program, which aims to support first-time homebuyers while preventing real estate price hikes. The initiative, inspired by the former "Apartments for young people" program, replaces the previously planned "Loan for a Start." It focuses primarily on the secondary housing market but also includes new apartments built within social housing projects.
To control housing costs, the program sets various limits, including maximum prices per square meter, income thresholds, and quarterly application caps. In the five largest Polish cities, the price per square meter cannot exceed PLN 11,000, while in other locations, it is capped at PLN 10,000. Income limits range from PLN 6,500 net for single buyers to PLN 15,500 for a family with three children. Additionally, to prevent market overheating, only 10,000 applications will be approved per quarter.
The program also aims to make home loans more affordable, reducing mortgage interest rates to 4 percent, significantly lower than the current average of 8 percent. It includes measures to improve access to social and municipal housing, ensuring support reaches those most in need.
