The number of loan applications under the government program “Safe Credit 2%” is decreasing month by month. This may indicate that whoever wanted to benefit from the subsidy has already done so. The application processing time is 3 weeks, but many banks do not meet the statutory deadline. By October 26, 27,696 contracts had been signed.
The Credit Information Bureau reported that in September, banks granted over 18,000 housing loans. After comparing this number with data from the Ministry of Development and Technology, we can assume that as many as two thirds of borrowers took advantage of the “2% Safe Credit”.
Safe loan 2%. Poles went shopping
It was the government’s subsidies for loans that caused a huge movement on the real estate market: growing interest resulted in an increase in prices. In Krakow, prices increased by 28% during the year, in other cities the increases were smaller, but they still hit buyers’ wallets. Loans have also become more available to people who meet the conditions (the basic one being the lack of their own apartment), but prices have dropped so much that they have forced Poles to play roulette. Some bought an apartment thinking that it would not get cheaper anyway, others decided to wait, convinced that prices cannot continue to increase and there must be some upper limit.
GetHome.pl portal expert Marek Wielgo believes that the “fever” caused by “Safe Credit” is slowly decreasing. – This may be indicated by the number of loan applications submitted – he says.
He recalled that in July, when the government program was launched, almost 24.3 thousand people applied for a loan. households. In August, fewer of them applied, i.e. approx. 17.6 thousand. September brought some recovery, with over 21.8 thousand conclusions. We haven’t seen the October results yet, but in the middle of the month the Ministry of Development and Technology said it was less than 4.2 thousand. new applications. This suggests that their number may be even half as much as in September. This is regardless of the fact that initially only two banks participated in the program, in August there were nine of them, and now – 12.
Safe Credit 2%. More and more contracts
The vice-president of the Polish Bank Association (ZBP), Agnieszka Wachnicka, also shared her observations on social media. – Media reports about the potential suspension of the BK2% program in 2024 did not result in an increased inflow of applications. A slight slowdown in the number of t/t applications, the number of concluded contracts is accelerating – wrote on the X platform (formerly Twitter)
The data presented by the deputy head of the Polish Bank Association show that 27,696 contracts were signed by October 26, which means that during the week the number of contracts increased by 3,410. The number of applications amounted to 62,929, which means a weekly increase by 2,730. In turn, the number of housing accounts opened was 3,860 (up 183 week-on-week).
A week ago, the vice-president of the Polish Bank Association announced that the value of contracts concluded under the Safe Credit 2% program. is PLN 9.7 billion, and the average contract value is PLN 399.4 thousand. zloty.