Singles and families can count on such a loan. June brought changes

How much loan could count on average earning singles, couples without children and family with a child? How did their creditworthiness change and what apartments were they able to afford? Experts RynekPierwotny.pl and Rankomat.pl checked the offers of banks and developers in the seven largest Polish metropolises.

– Rather, hardly anyone expected that June would cause a deterioration in the availability of housing loans, and as a consequence a decrease in interest in them – says Marek Wielgo, an expert of the RynekPierwotny.pl portal.

RPP and reduction of interest rates

The May decision of the Monetary Policy Council to reduce interest rates was in line with the expectations of the market. Already in April WIBOR began to fall, i.e. an indicator affecting the interest rate on mortgage. This improved the creditworthiness of many Poles and increased interest in housing loans.

Meanwhile, another reduction of the feet – announced at the beginning of July – was a big surprise. Due to the tensions in the Middle East, the market only expected such traffic in autumn. Therefore, in June WIBOR has not yet fallen, and some banks even raised the interest rate on loans, which hit the creditworthiness of people with average income.

The analysis assumed that the average single or single earns 6,000 PLN net per month, childless couple – 8,000 PLN, and marriage with a child – 10,000 zloty. Each of these people or households has an employment contract for an indefinite period, 20 % own contribution and no other credit obligations.

What amount per flat?

In June, the creditworthiness of the average earning households slightly deteriorated – according to the analysis of rankomat.pl. Still, it was still better than at the beginning of the year. They could count on a mortgage:

• single or single (PLN 6,000 net) – 411.6 thous. PLN (by PLN 4.5 thousand less than in May),

• Childless couple (PLN 8,000 net) – 531.6 thous. PLN (decrease by PLN 12.9 thousand),

• A couple with a child (PLN 10,000 net) – 614.5 thousand PLN (decrease by PLN 6.2 thousand).

The differences between banks were huge – for a single with a income of 6,000 PLN net amounted to as much as 140 thousand. PLN, and for a family with a child reached 187,000 zloty. Experts emphasize that the highest ability does not always go hand in hand with the lowest cost of the loan. Therefore, when choosing an offer, it is key to comparing conditions.

By assuming a 20 % own contribution, the maximum budget for the purchase of an apartment was in June: 514.5 thousand. PLN for a single, 664.5 thousand PLN for childless couple and 768.1 thous. PLN for the 2+1 family.

– With such financial possibilities, you can already think about buying your own M for a loan – explains Marek Wielgo.

What selection of apartments?

According to Big Data Rynekpierwotny.pl, the offer of development apartments in the largest cities reached a record scale, and the average price of a square meter remained stable for half a year. In June, however, a decrease in creditworthiness limited the number of apartments available to average buyers. A single with a budget up to 514.5 thousand PLN had the largest selection in the Upper Silesian-Zagłębie metropolis (about 4.2 thousand premises) and Łódź (less than 3.8 thousand). They were the least in Warsaw – less than 600, 83 less than in May. In Poznań, Tri -City, Krakow and Wrocław, the number of available apartments has fallen from 4 percent. up to even 10 percent In most metropolises, singles could mainly count on two -room premises, although three -room were also available in Łódź and GZM.

Childless couples with a budget up to 664.5 thousand PLN also had a smaller choice than in May – especially in Warsaw (a decrease by nearly 400 premises), Krakow (by over 300), Wrocław and Poznań (7 % each). The most apartments within their reach were in GZM (over 7.3 thousand) and Łódź (6.6 thousand). In Krakow and Warsaw, they could count mainly on studio apartments and two -room apartments. Families with a child had the widest choice – four -room apartments were also within their reach, especially in GZM (554 premises) and Łódź (335). The exception were Krakow and Warsaw, where there were 21 and 32 such offers, respectively. Despite the large supply, the developers in some cities began to limit the new offer – this is a reaction to the weaker sales and caution of customers who are waiting for further reduction of interest rates.

– The demand for apartments, however, will not remain indifferent to improving availability of housing loans. If in the economy and consequently on the labor market, nothing will happen that could extinguish the optimism of credit buyers, the sale of apartments will be clearly revived. The question is how developers will behave, whether they will turn on a higher run counting on sales harvest – comments the expert of the RynekPierwotny.pl portal.