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Tuesday, October 26, 2021

Real estate. Poles threw themselves on housing loans. Big increase

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In a statement on Thursday, the Credit Information Bureau informed that in August 2021, banks sold housing loans for almost PLN 8.2 billion. In terms of value, this is an increase of more than 80 percent compared to August 2020.

As reported by the Office, in August 2021, housing loans worth nearly PLN 8.2 billion were sold, which means an increase by 80.1 percent year on year. The number of loans taken in August amounted to 24.6 thousand, which means an increase by 53%. From the beginning of the year, the value of housing loans amounted to over PLN 57.7 billion, and the number was 181.3%.

Real estate. What loans did Poles take?

“In the first eight months of 2021, more than half (55.8%) of the value of loans granted are loans with an amount above PLN 350 thousand. Loans alone above PLN 500 thousand constitute 26.6% of the total lending activity” – was written in the BIK release.

It indicated that in the individual amount ranges determining the value of a housing loan in the period January – August 2021, a large differentiation can be seen. The highest positive sales dynamics of housing loans, both in terms of number and value, concerned loans from two ranges – from 350,000 to 500,000. PLN and above 500 thousand. PLN, respectively in terms of numbers (+47.2%) and (+87.0%) and value (+48.2%) and (+92.9%). In the remaining ranges, both in terms of numbers and value, the dynamics did not exceed (+25.0%).

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The BIK information added that the results of the August lending action in terms of housing loans reflect the demand from June and July 2021. The possibility of achieving a record lending in August was already signaled by both June (+55.9%) and July (+33, 2 percent) reading of the Demand Index for housing loans.

– For housing loans, August last year. it was still a poor month in terms of the number and value of lending (16.0 thousand PLN 4.55 billion). The high dynamics in August 2021 is therefore partly due to the low base effect in August 2020. The second, in my opinion, even more important factor is the record value of lending in August 2021. The historic record was broken, for the first time in history, monthly lending exceeded PLN 8.1 billion. In addition, it is worth noting that August is the sixth month in a row with a monthly loan value in excess of PLN 7.5 billion – stated the BIK chief analyst, prof. Waldemar Rogowski.

The value of granted mortgage loans is growing

According to the BIK information, the boom in large-value housing loans continued in August. This is visible in the average value of the loan granted, which in August 2021 reached another record value of PLN 333 thousand. PLN and was higher by 17.7 percent. from the average for August 2020

BIK also calculated that in August by 30.2 percent. the number of cash loans sold increased and by 4.8 percent. installments. 4.4 percent credit card limits have decreased. In terms of sales value, cash loans increased by 40.4%, card limits by 18.1%, and installment loans by 16.4%.

“In the period January – August 2021, banks and SKOK granted a total of 2,381.6 thousand installment loans (+ 5.9 percent) for the amount of PLN 11.10 billion (+22.6 percent) and 2,080 , 4,000 cash loans (+17.8%) for the amount of PLN 44.27 billion (+28.7%) “- stated in the BIK announcement.

Main photo source: Shutterstock

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