22:20 30 June 2026
Refinancing conquers mortgage market, demand for new loans growing economy
In May, Polish banks and credit unions issued over PLN 13 bln in housing loans for another consecutive month, with the average mortgage reaching a record PLN 476,140, up 8.1% y/y. Loan value rose 59% y/y, while the number of loans increased 47% to 27,600. Refinancing now accounts for one-third of current mortgage activity, driven by lower borrowing costs and rising wages. From January to May, more than 130,000 housing loans worth PLN 60.6 bln were granted.
NBP data show stable housing prices in 16 cities and a large stock of unsold developer apartments. The monthly cost of servicing a mortgage has now equaled the cost of renting.
(pb.pl)
