In August, banks and credit unions issued housing loans worth PLN 6.26 billion, according to estimates by the Credit Information Bureau. This is 11.9 percent less than in July and 21 percent more than a year earlier – when the “Safe Credit 2%” program was in effect for the second month in a row. At that time, PLN 3.31 billion of ordinary loans were issued and PLN 1.89 billion under the program. The number of loans issued in August this year decreased by 12.2 percent compared to July.
Since April, the value of loans granted has remained among the top six, but fluctuations are considerable: from PLN 6.21 billion in May to PLN 6.98 billion in July.
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Demand for housing credit remains high despite lack of support program
– Despite the lack of a support program for borrowers, interest in housing loans has not diminished. Since the beginning of the year, the number of housing loans granted has increased by 80.2% and their value by an impressive 108.5%. – commented Waldemar Rogowski, chief analyst at BIK Group.
The expert stressed that three factors are responsible for such high dynamics. – Firstly, this year’s lending campaign also included amounts from the pool of applications submitted last year with the participation of the “Safe Credit” program. This amounts to PLN 13.6 billion. Without it, the amount of loans in the period from January to August 2024 would amount to PLN 46.4 billion and would be 61% higher. compared to the same period last year. Secondly, the first half of 2023 was characterized by low lending and, therefore, a low base – which was the result of high interest rates and waiting for the launch of the support program. Thirdly, we currently have borrower activity that is clearly higher than in the first half of last year, despite the lack of a support program, he added.
