Credit information on the purchase of real estate in Poland
Information given by the Credit Information Bureau stated that in February 2018 Banks raised 13.4% mortgage loans for apartment purchase.
The credit information Bureau index informs about the amount and value of loans given every year. This year's result is better than in 2017, which means banks ask for higher loans.
In 2018, according to the data, 34 360 people applied for credit loans for apartment purchase, which is 4.6% higher than last year. The average amount of loan requested is PLN 243 290, which is 8.4% more than last year.
One of the most affecting factors might be the end of the government program called MDM - apartments for young. The very positive factor is the increasing income of households in 2018, which, taking into consideration the very low interest rate, can increase their credit worthiness.
However, the interest rates might rise in next few years, which can be harmful for loan takers, who are given loans with unstable and changing interest rates.