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Tuesday, February 27, 2024

Apartments for rent, apartments for sale. Prices go up – Alina Muzioł-Węcławowicz and Jarosław Sadowski comment

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Rental costs in some cities increased by an average of more than 40 percent during the year. – Many students will experience a shock, probably after the holidays – said Jarosław Sadowski, chief analyst of Expander Advisors, in “Fakty po Faktach” on TVN24. As he noted, young people actually have no choice, “because they neither have access to affordable rental housing, nor do they have the creditworthiness to buy their own apartment”. According to Dr. Alina Muzioł-Węcławowicz, an expert on housing at the Institute for Urban and Regional Development, rental costs are rising because we have “a very unequal housing structure”.

The latest report by Expander and Rentier.io shows that in May this year. Rental costs increased by an average of 25 percent during the year. Its authors pointed out that it will be very difficult for young people to move from the rented premises to their own premises.

– In fact, young people have no choice, because they neither have access to affordable housing for rent, nor do they have the creditworthiness to buy their own apartment. The two markets are partially connected. Until recently, the situation was good because we had very low interest ratesloans were available, after covid, the lease was also quite cheap, but this has changed dramatically in recent months – said Jarosław Sadowski, chief analyst of Expander Advisors in TVN24’s Fakty po Faktach.

As he indicated, the change primarily concerned mortgage loans, i.e. the purchase of own flats. – Because they were already expensive, and suddenly it turned out that the interest rate on loans had increased so much – this was also recommended by the Polish Financial Supervision Authority – that the available loan amount suddenly fell by half within a few months. In the case of such young people who are just entering the labor market or have recently started their professional careers, it is very difficult to get a loan at the moment – noted Sadowski.

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Apartments for rent

But – as he noted – “if they would like to rent a flat, it is also very expensive, because due to the large influx of people from UkraineAfter the post-sovid declines in the rental market, rates have suddenly shot up and in recent months in some cities they have increased by as much as 40 percent (year on year – ed.). ”This is the case in Gdańsk and Kraków.

According to the analyst, “many students will experience a shock, probably after the holidays”. – Because now we have a period when students are moving out, it is July, August is breathless and in September they will probably start looking for flats and it will suddenly turn out that these rates are very high – said the guest of “Facts after Facts” on TVN24.

Sadowski said that this increase is not only the result of demand, but also of the increase in loan installments. – Some of these apartments were bought on credit, so the owners want to transfer some of the costs to the tenants and they partially succeed, but I think that the fight between tenants and owners will not take place until September – the analyst noted.

“A lot of attention is devoted to the ownership of flats”

Dr. Alina Muzioł-Węcławowicz, an expert on housing at the Institute of Urban and Regions Development, stated that the reason for the high rental rates is “a very uneven housing structure”.

– We have owner-occupied flats and a lot of attention is paid to owned flats, while the rental housing sector, both market and social, which is very important in every country when it comes to the social aspects of housing, is very underdeveloped in Poland. From this imbalance it follows that on every occasion when we have exceptional situations, and recently we have had many exceptional situations, war in Ukrainerefugees in Poland inflationThese actions show that rents are rising very, very quickly – she explained.

Main photo source: Fotokon / Shutterstock

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