Who buys apartments for cash? He asked the National Bank of Poland about it

It is believed that apartments purchased for cash are the domain of investors. There is a lot of truth in this, but some buyers can also afford to shop without using a loan for their own needs. Information on the number of cash customers is provided by the report of the National Bank of Poland, which reached almost a quarter of developers building blocks and apartment buildings in Poland and asked them, among others, about the method of financing the purchase by people purchasing new apartments for various purposes.

Apartments for cash

Their answers show that in 2023 the situation began to return to normal after the credit crunch of 2022, which also resulted in an above-average share of investment transactions. Compared to 2022, the share of non-credit transactions related to the purchase of a new home for one's own needs or that of a family member decreased (down from 35% to 27%). The share of transactions for own needs with a contribution of less than 50%. increased significantly (from 40% to 52%), but has not yet returned to the level of 60%. – 62 percent listed in 2019 – 2021 – reports the RynekPierwotny website.

In the case of purchasing new apartments for rent, we also see a certain change. From 68 percent up to 59 percent the share of purchases of new premises in which the future tenant did without the help of a bank decreased. It is worth noting that even in times of better availability of loans (2019-2021), the percentage of “for rent” purchases with own contribution is up to 50%. did not exceed 24 percent

Small apartments sell best

Currently, small apartments are selling best. This is related to high prices, although it should be borne in mind that a square meter of a studio apartment costs more than a square meter of a larger apartment. The average size of apartments sold on the primary market has been decreasing for several quarters. The average area of ​​a flat sold in Q3 2023 was approximately 10% higher than in the previous quarter. lower than a year earlier – PKO BP Bank analysts wrote in the report.

The “Safe Credit 2%” program also contributed to reducing the square footage, limiting the maximum amount of the loan and own contribution, which, given the rising prices of apartments, forced a reduction in the square footage.

Developers adapt the offer to customer needs. In Develia, small premises constitute approximately 30%. offers, although until recently the company maintained the standard of 45-50 percent.

– Designing a larger number of compact apartments is hampered by factors such as the need for sunlight and providing an appropriate number of parking spaces for cars – explains Tomasz Kaleta, director of the sales department at Develia.

Safe Credit promoted small apartments

A similar percentage of small apartments is offered by JW Construction.

– The offer of one- and two-room apartments decreased after the “Safe Loan”, although preferential conditions and price availability of apartments also translated into considerable interest in larger, three-room apartments – says Małgorzata Ostrowska, director of the marketing and sales department at JW Construction.

This is true: in cities, the loan subsidy program allowed for the purchase of apartments of up to 60 square meters, in smaller towns it was possible to buy an apartment of up to 75 square meters, but it would rather need renovation. However, most beneficiaries chose two-room apartments up to 50 square meters. They quickly disappeared from the primary and secondary markets.