Difficult situation for flippers: According to experts, it's a bad time for investing in housingfor renovation. Demand for apartments has noticeably slowed down, “loans are horrendously expensive, the market is in the waiting phase for a possible credit program” – says Rafał Bieńkowski from Nieruchomosci-online.pl.
Record-breakingly expensive loans: “Puls Biznesu” also adds to this high loan interest rates in Poland and limited purchasing opportunities of Poles. Recall that a few months ago The European Central Bank informedthat the interest rate on housing loans is the same in our country the highest in the entire European Union – this is an average of 7.83 percent.
Prices stopped rising? Experts note that recently in many cities apartment prices on the secondary market stopped growing. As Rafał Bieńkowski reports, in provincial cities many cases of slight corrections and stabilization of offer rates could be observed. He adds that currently “flippers feel the situation is more difficult on the market.”
Quick sale problematic: If pinball may find an apartment at a bargain price because sellers are more willing to negotiate, then its subsequent, quick salemay already be a problem. According to Marcin Drogomirecki, a real estate market expert, “opportunities appear all the time, but… Only the most experienced players flip“.
The Left Act was lost: Flipping is still a legal activity for now. The first reading took place in June draft “anti-flippers law”submitted by the Left. It assumed, among others: increasing the tax on civil law transactions when selling an apartment up to 10 percent The project was also supported by PiS, but it was rejected by MPs.
See also: How much do representatives of particular industries have to save for an apartment? More in the text entitled “They calculated how much you have to save for an apartment. Do you work in these industries? You may have a problem”.
Sources: “Puls Biznesu”.