Are Poles’ wallets really bursting at the seams and are they less and less frequently using the help of banking institutions? Mortgage – forecasts, trends, and projections – this is a summary of the housing loan market in 2020.

Last year was successful for the credit industry. The number of people who decided to make a commitment to buy a house or flat increased, which is a long-term trend. Statistics for 2019 also indicate, among others for raising the average mortgage price, which amounted to USD 288,000 dollars. According to real estate market analysts, the economic situation will also continue in the new year. So what will the next several months look like?

Mortgage – where to get the money for your own contribution in 2020?

Mortgage - where to get the money for your own contribution in 2020?

Forecasts are worth reaching for the source, i.e. the Credit Information Bureau. Entering the new year with high GDP growth of 4% allowed the institution to hope for maintaining stable development of the banking sector in the area of ​​short- and long-term liabilities. The demand for flats does not decrease, and the accumulated savings as a result of increased wages are a chance for the necessary own contribution.

Already in the fourth quarter of 2019, according to the Central Statistical Office, the average salary in Poland was almost USD 5.2 thousand. Overcoming the barrier of another 1,000 for the first time can be good information for bank employees who are analyzing the creditworthiness of potential customers.

On the other hand, real growth is not so impressive. There is increasing talk about price increases, which can take away a significant part of the surplus previously deposited in the form of savings.

What awaits the borrower in 2020?

What awaits the borrower in 2020?

Last year’s boom surprised even the greatest optimists. Despite clear declarations regarding housing programs (or even one!) And ways of support by the government, borrowers very eagerly lined up at the bank. Mortgage commitment to buy your own apartment is the most common solution and the increase in the number of available apartments for rent has not changed this trend.

The Credit Information Bureau, therefore, expects that the value of mortgage loans in 2020 will exceed USD 70 billion (by 5 billion more than last year).

This is mainly due to the increase in property prices, and this in turn – a similar bull market on the building materials market. When everyone gains, economists wait for the bubble to burst. However, it seems that 2020 in macroeconomic terms will not be a year of recession, so you can still sleep peacefully.

Much really depends on the level of interest rates. The NBP has been maintaining them at a low level for many years and only a sudden slump on the international market can lead to a sudden change in this approach. Until then, the industry.

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