A significant decrease in the purchase of apartments for a mortgage in Poland
A decrease in the purchase of apartments for a mortgage in Poland
Due to the current situation related to the constant increase in interest rates in Poland, financing the purchase of real estate through a loan has practically disappeared. In August, the banks sent inquiries to BIK (Credit Information Bureau in Poland) from 12,000 people, which in turn means a 70% decrease over the year. There has been no such situation in this market for a long time.
The role of financing the purchase of apartments in Poland was taken over by cash. Constantly rising inflation makes money depreciate and people refuse to keep their savings in cash. So they willingly place them in real estate.
A drop in the sale of flats is also visible when it comes to new flats in Poland.
Companies that build apartments for sale in Poland have also reduced the number of building permits submitted in an effort to adjust supply to declining demand.
Promotions and bonuses at developers of new residential buildings in Poland
The drop in interest means that you can also count on various promotions from developers. With some companies that build apartments in Poland, you can count on a parking space in the garage and a storage room for free. Some companies also use an ordinary discount when buying a flat (usually the amount is PLN 40,000-50,000).
When it comes to encouraging the purchase of credit customers, companies that build apartments in Poland realize that many people withhold the decision to buy their apartment due to the high interest rate on mortgage loans and propose a payment schedule that is favorable for them. The point is that the buyer can pay 80-90% of the apartment price only at the time of its receipt. What are the benefits of this? You don’t have to run the entire loan amount at the time of purchase and pay interest on the full amount.
If you are considering buying a property in Poland, this might be a good time to buy it. For the above-mentioned reasons, it is possible to negotiate the price with both owners and companies building new apartments.