Poles buying more and more apartments
21:44
Developers in the face of the existing economic and political situation will be forced to raise housing prices. The current and future state of affairs will be influenced by the Polish Order, the Developer Guarantee Fund, and above all the growing demand for mortgage loans.
In May this year, the Housing Loan Demand Index reached 91.5%. This means that interest in loans last month increased by more than 90% compared to the same period last year, which is a record reading in the history of the Institution. On weekdays, banks and SKOKs reported to the BIK an average of more than 2.5 thousand credit applications, whose value is estimated at more than PLN 800 million per day.
Although in May 2021, Poles applied for 47.6 thousand loans, which is a much lower number compared to March, when 56 thousand loans were applied for and in April 51 thousand, but taking into account the number of working days in May, which were fewer than in previous months, this gives the best result in recent months. "Poles do not want to delay with the purchase of real estate, so banks have loosened their lending policies, restoring the 10-percent own contribution and low-interest rates, which has fuelled the huge demand for real estate, and thus influenced the increase in their prices," says Karolina Opach, Apartment Sales Director at Atal. "In addition, the continuous increase in inflation is associated with the desire to secure assets, which encourages customers to invest in real estate, and this will not go unnoticed, because the increase in investment demand affects the further reduction in the supply of housing, which means further price increases", she adds.
