Value of housing loans increase 1.1% y/y to PLN 456.95 bln in April
20:35
Polish household debt grew slightly in April 2024, reaching PLN 736.5 billion. Mortgage loans edged up 0.5% compared to March and 1.1% y/y, totaling PLN 456.95 billion. Zloty-denominated mortgages drove this rise, increasing 0.6% monthly and a significant 8.9% annually.
However, franc-denominated mortgages continued their steep decline, dropping 2.3% monthly and a staggering 60.6% y/y. Loans in other currencies also saw a slight decrease.
Consumer loans followed a similar pattern to overall debt, with a small monthly rise of 0.9% and a 7% annual increase, reaching PLN 179.52 billion.
While this data suggests a slow and steady rise in household debt, the significant decline in franc-denominated loans raises concerns. This trend could negatively impact the Polish economy in the long term.
