Impuls on the real estate market after the decision of the MPC
– The May reduction of interest rates is not a medicine for all the ills of the housing market, but undoubtedly is the first, long -awaited impulse – notes Katarzyna Kuniewicz, director of the OTODOM market research. The decision of the Monetary Policy Council (RPP) of May 7 already affects the interest of Poles in residential. We would like to remind you that it was then decided to reduce the feet by 50 base points to 5.25 percent. This means that paying loans in PLN will pay lower installments.
Poles predicted a reduction in the feet and began to work
After last month the president of the National Bank of Poland (NBP) announced that the council had a “pigeon”, Poles knew that there was a reduction in interest rates. BIK data shows that in April 2025 for a housing loan applied 35.6 thousand people, which means an increase of over 10 percent. year on year. “Even before its official preaching, the buyers tested their creditworthiness, expecting better financing conditions,” notes Otodom. Interestingly, according to a study just conducted by OTODOM 13 percent. people on the shopping path declared that the reduction of the feet would be a signal for them to finalize the transaction. It is estimated that they can generate up to 5,000 additional transactions per year.
Poles threw themselves on the apartments
This “impulse” can be seen even more clearly when we look at the number of reservations of apartments on the seven largest markets. Only until May 15 amounted to an average of 115 a day. Meanwhile, in April it was 72 a day and 67 in March. This means that in only two weeks they have the number of reservations increased by 60 percent. relative to April. What's more, this is the highest level from the beginning of the year. Sales also started. On average, about 126 transactions per day were carried out from February to April. In May there were an average of 137 a day.
This is just the beginning?
– The reservations themselves, although they are not synonymous with sales, can be a form of changes and herald the reflection of demand. If the current pace persists, sales in May may be noticeably higher than in previous months. It is also possible that the following months will bring good or even better results, especially if the decrease in the feet turns out to be the beginning of a longer trend – notes Katarzyna Kuniewicz. More interest in apartments can also be seen after activity on the Otodom portal. In the first week after reducing your feet, the service was visited by 9 million people. This is an increase of 14 percent m/mi 16 percent r/r. In turn, the number of answers to the advertisement increased to 96,000, i.e. by 24 percent. compared to the previous month. However, Otodom analysts still believe that the revival of sales reaching 15-20 percent. It can only take place after a total reduction of feet by 100-150 base points.
There will be further discounts?
During a press conference, Adam Glapiński clearly emphasized that the May reduction “does not automatically mean the beginning of the reduction cycle”. – We do not announce any path of future interest rates, we will act all the time to permanently reduce inflation – he said. He also referred directly to the June meeting of the MPC, during which he is “doubtful” to decide to reduce. Also, a member of the MPC Ireneusz Dąbrowski in an interview with Money.pl emphasized that “in June there is no space for another reduction in interest rates.”
Read also: “You have to save for so many years for an apartment. In two cities it is terrible “.
Sources: Otodom, Next.gazeta.pl