Minister on the stabilization of housing prices: Sometimes it is enough not to spoil things
Thanks to the suspension of the “0% loan” program, the dynamic growth of apartment prices was stopped, says Minister Katarzyna Pełczyńska-Nałęcz.
The Minister of Funds and Regional Policy, Katarzyna Pełczyńska-Nałęcz, drew attention to significant changes in the housing market. In her entry on the X platform, she emphasized that thanks to the suspension of the “0% loan” program, the dynamic increase in apartment prices had been stopped. According to the minister, such a program could result in further price increases, bringing benefits primarily to banks and developers.
Stabilization of housing prices
Data provided by the minister show that since May this year, average apartment prices in the eight largest cities in Poland have increased by only 1%. For comparison, in the previous 18 months there was an increase of as much as 24%. According to Pełczyńska-Nałęcz, the inhibition of programs such as the 0% loan contributed to this stabilization.
“We have retained the 0% loan, which, like the 2% loan, could lead to an increase in housing prices, while generating profits for banks and developers. Now is the time for good housing policy,” wrote the minister.
Statistics and differences in housing prices
Data from the National Bank of Poland show that within two years – from the second quarter of 2022 to the second quarter of 2024 – apartment prices increased by 17%. At the same time, the average salary increased by 15%. In the longer term, the difference is even more noticeable. Since 2019, apartment prices on the primary market have increased by 76% and on the secondary market by 71%, while the increase in net wages was 69% during that time.
Deputy Prime Minister Władysław Kosiniak-Kamysz announced changes in the housing policy. It is planned to introduce a program with the working name “Mieszkanie dla Młodych 2.0”. The program is to be based on three pillars: ownership, shared and social. The key assumption will be to support people buying apartments, especially those financing the purchase with a loan.
The “Mieszkanie dla Młodych” program had already been in operation and allowed for subsidies for apartments from both the primary and secondary markets. The popularity of this program increased after its modification in 2015, which resulted in increased activity on the housing market. The currently planned changes are to be a continuation of this idea, but with greater emphasis on price stabilization.
