In Warsaw, the selection of flats that qualify for the “Safe Credit 2%” program is relatively small. The Minister of Development explained that the financial thresholds prevent it from being an “apartment plus” program, but the legislator has narrowed down the room for maneuver for the residents of Warsaw and other largest cities.
From July 3, applications for subsidies under the government program “Safe Loan 2%” can be submitted. However, before those who meet the conditions (and therefore do not own any real estate – the program is intended only for those purchasing the first apartment or house) go to the bank, they must choose property that they want to finance with a loan.
2% secure loan You cannot buy any apartment
There is no complete freedom here. The maximum loan amount with a state subsidy that can be obtained under the subsidy program is PLN 500,000. zlotys in the case of a single and 600 thousand. PLN for a family. Property prices, however, vary from city to city. The most expensive is Warsaw, where the amount of financing is only enough for a studio apartment or a small, two-room apartment, located away from the city center.
– In Łódź, you can buy a 70-square-metre flat for this amount. In Warsaw, 40-45 meters. Of course, it will be hard in Śródmieście or Mokotów. But there is also Białołęka or Ursus – said Waldemar Buda on Radio Zet. He added that “this is not an apartment plus program”, which was supposed to be the answer doubts that in the largest cities it is very difficult to find a flat that qualifies for the subsidy.
2% secure loan Varsovians have a problem
According to the data from the portals sekretpr.pl and gethome.pl, in June the average price of a subway at Warsaw developers reached over PLN 14.9 thousand. PLN (almost 10% more than in December 2022). In turn, the price of a metro on the secondary market is over PLN 15.1 thousand. PLN (5 percent more than in December). In addition, there are much fewer apartments for sale. In the first half of the year, developers put 4,980 apartments on the market for sale, over a third less than in the same period a year ago, enumerates the capital’s “Gazeta Wyborcza”.
– People buying apartments on the outskirts of the metropolis will benefit most from the new government program. I’m afraid that for the inhabitants of the largest cities in Poland, unfortunately, “the train has already left”. The prices here are prohibitive. Although the loan is available, it is very difficult to use the full pool of it in the case of young and average-earning people, to whom this offer is addressed – said Marek Wielgo, an expert on the marketplace.pl and gethome.pl portals, in an interview with the newspaper.
Wielgo also noticed that in Warsaw and the immediate vicinity for subsidies under the Safe Credit program, 2 percent. approx. 8.7 thousand qualify. flats. This is only seemingly a large number: however, we are talking about the maximum amount that can be spent on the purchase of an apartment under this program, i.e. PLN 800,000. PLN – a loan for 600,000 PLN and 200 thousand PLN own contribution.
Young people may have a problem with own contribution
Real estate that can be purchased from a combination of government programs, i.e. Safe Credit 2 percent. and Family Housing Loan, i.e. for a maximum of PLN 500,000. PLN, is much less – approx. 3.6 thousand. Young people are unlikely to have savings of 200,000. PLN, which they can allocate for their own contribution, so they will probably look for real estate up to 500-600 thousand. zloty.
– Of course, on the Warsaw market you can find many interesting offers at this price, their number is shrinking very quickly. Clearly supply is not keeping up with demand. The very announcement of the Safe Credit 2 percent program. it activated those who thought about a flat, but, for example, delayed the purchase, hoping for a drop in prices. But nothing of the sort happened. Prices in Warsaw are rising, he said.
Safe 2 percent loan: who is entitled to it?
The “Safe 2 percent loan” can be used by specific groups of people. It will not be granted to a person who has reached the age of 45. An additional limitation is that the borrower cannot be the owner or co-owner of any real estate.
In the case of a joint household, the youngest person must not be over 45 years old. Spouses will be excluded from the scheme if one of them owns real estate – even if it was acquired before the marriage and is separate property of one of the partners. This program is to support people who want to buy their first apartment or house. An exception applies to inherited real estate.