There is still a lot of traffic in banks. By 92 percent more loan inquiries than a year ago

Safe loan 2 percent  this is a lesson for the new government.  Is it possible to undo the price increase?

By 92 percent the value of inquiries about housing loans increased y/y in January 2024 – informs the BIK Demand Index for Housing Loans. Currently, there is less interest in loans because the 2% Safe Credit subsidy program ended at the end of December, but another one is to be launched in a few months.

In January 2024, 22.58 thousand people applied for a housing loan. potential borrowers compared to 13.25 thousand a year earlier, which translates into a y/y increase of 70.3%. However, compared to December 2023, the number of people applying for a housing loan decreased by 51.3%.

Poles applied for higher loans than a year earlier

The average value of the requested housing loan was PLN 426.88 thousand in January 2024. PLN and was higher by 23.4%. than in January 2023. Compared to December 2023, however, it decreased by 1.9%.

Potential borrowers submitted loan applications in January 2024 for a value of over 90%. higher than the year before. The demand for housing loans significantly slowed down after the closing of applications under the Safe Credit 2% Program. There are several factors that influence the value of the current Index reading.

– There are several factors that influence the value of the current Index reading. The first is a larger number of people applying for a housing loan, which increased from 13.25 thousand in January 2023 to 22.58 thousand in January 2024. Over 70 percent. increase in the number of applicants compared to January last year is largely the result of the “freezing” of demand for housing loans at that time as a result of the high level of interest rates, so we have the effect of last year’s low base – prof. Waldemar Rogowski, Chief Analyst of the BIK Group.

The second is a decline of over 50%. number of applicants in January 2024 compared to December 2023. This is a direct result of the closing of the acceptance of loan applications submitted under the Safe Credit 2% Program, which was responsible for approximately half of the lending in the second half of 2023.

– An important factor determining the level of the Index is also the increase in the average amount of the loan requested to nearly PLN 427,000. PLN – this amount is as much as 1/4 higher than in January 2023. However, it is lower than in December last year. This is the result of applications without the participation of the Borrower Support Program. Beneficiaries of the 2% Safe Credit Program applied for and took out loans for a higher average amount compared to “market” borrowers, Rogowski added.

We are waiting for the “Apartment to start” program

A new government loan subsidy program is scheduled to launch in mid-year. The concept of the starter apartment is similar to the previous 2% Safe Credit program: subsidies to loan installments will be available for 10 years from the signing of the loan agreement. This program is intended to enable the purchase of an apartment or house, the construction of a house and the purchase of a housing contribution in a cooperative or participation in SIM/TBS.

The age limit for singles in the program will be 35 years. Other farms will not have such a limit. However, there will be income limits, the thresholds are to be:

  • 10 thousand PLN gross for a single room

  • 18 thousand for 2 persons

  • 23 thousand for 3 people

  • 28 thousand for 4 people

  • 33 thousand for 5 people.

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