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real estate. Creditworthiness 2023 – what apartment can I buy? How many meters? Analysis

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An average-income family of three, using their creditworthiness to the full, can buy an apartment with a size of 58 to even 110 square meters, according to the HREIT analysis. The smallest purchasing possibilities are in Warsaw and the largest in Katowice.

“By taking a loan under the cork, you can buy a large apartment” – indicates HREIT.

As analysts emphasize, “almost a year has passed since our creditworthiness reached the bottom”. They note that around the same time in 2022, an example family with two at their disposal national averages could borrow less than 400,000 to buy a flat. zlotys.

However, within 11 months, access to loans has improved significantly. Therefore, as part of playing with numbers, HREIT decided to check how many square meters of an apartment an example family can buy in June 2023, the analysis reads.

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In their calculations, the analysts adopted the assumption that the exemplary family has 20 percent. own contribution and has money to cover transaction costs.

“So we would have almost PLN 700,000 to spend, and we would still have about PLN 56,000 reserved for an intermediary, notary, court fees, credit related fees and tax. By the way, with the current interest rate on loans, the installment of a 30-year loan for PLN 558,000 would be about PLN 4.4 – 4.7 thousand per month” – analysts write.

How big an apartment can I buy?

According to estimates by HRE Investments, “for PLN 700,000 you can currently buy from 58 to even 110 square meters of an apartment in a provincial capital”.

“Of course, we will buy the smallest premises in Warsaw. According to NBP data, you have to pay almost PLN 12,000 per square meter in the capital at present (Q1 2023). Taking out a loan of about PLN 558,000 and having a 20% own contribution, which is an additional nearly 140,000, a family can buy just over 58 square meters of an apartment in the capital, analysts said.

The analysis shows that such a family would have greater purchasing power in Gdańsk, Kraków and Wrocław.


“In these cities, the current creditworthiness would allow the purchase of an apartment with an area of ​​​​from 63 (Gdańsk) to almost 70 (Wrocław) square meters. All because the average prices per meter here are lower than in Warsaw. Our hypothetical budget would allow for the purchase of 70 to even 90 meters in Gdynia, Poznań, Rzeszów, Lublin and Szczecin.

“On the other side of the ranking, we find voivodship cities where the purchasing power of an example family is over 100 square meters of a flat. This applies to Opole, Olsztyn, Łódź, Zielona Góra, Bydgoszcz, Kielce and Katowice. a square meter of premises cost over PLN 6.3 thousand” – experts write.


Different creditworthiness

In the HRE Invetments communication, analysts also explain how the maximum amount that can currently be borrowed from the bank by an example family was calculated. “In June 2023, a family of three with two national averages can borrow almost PLN 558,000 for the purchase of an apartment. This is the median, so half of the banks declared a higher amount and half a lower one,” we read.

However, they point out that “the latest reading is almost 9 percent lower than the month before.”

“Why this surprising decrease? For now, we can only blame statistics. As it turns out, 6 out of 9 surveyed institutions declared their willingness to lend our exemplary family a higher amount than in May. Only in three banks analysts suggested lower creditworthiness than a month ago. We recorded the largest decrease in PKO, which operates under two brands. Unexpectedly, in June, our family was offered PLN 63.3 thousand less than in May 2023. Only in the following months will we see whether this is a temporary change or something more serious is behind it. – explain the experts.


Improvement of offers

However, according to experts, “compared to the previous month, most banks improved their loan offers”. “Our exemplary family can currently count on the largest debt in Alior. The bank’s offer is almost PLN 670,000. Next, we have offers from Bank Pekao, VeloBank and Bank Millennium, in which the creditworthiness exceeds PLN 600,000,” we read.

“The list also includes proposals below the amount. We are talking about BNP Paribas, Santander, PKO Bank Polski, PKO Bank Hipoteczny, ING or BOŚ Bank. In these institutions, our exemplary family could borrow from PLN 510,000 to over PLN 560,000 to buy a flat zlotys” – the analysts list.

Main photo source: Shutterstock/ Photocon

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