The Pulse of Real Estate: Who benefited from the Safe Credit 2%?
Safe Credit 2% has made the group of mortgage loan applicants younger by almost 10 years. This is the result of the upper age limit for program participants and the loan being intended only for people who do not already have a flat. The average age of BK2% applicants is just over 30 years old.
PKO Bank Hipoteczny conducted the third offer of mortgage covered bonds in 2023 with a total nominal value of PLN 750 million. Investor interest significantly exceeded the offer amount.
- On October 25, 2023, PKO Bank Hipoteczny offered mortgage covered bonds with a total nominal value of PLN 750 million to institutional investors. This was the third issue of the national currency this year - the first one took place in February and the next one in June.
The Pulse of Real Estate: There is a strengthening upward trend in land prices on the horizon
In 2022, the number of transactions on the undeveloped land real estate market (preliminary data from district statistics regarding notarial deeds registered in 2022) decreased significantly - by almost half. The largest decrease in transactions concerned land for residential development. At the same time, the average price per square meter of land intended for residential development increased significantly: in cities by a total of 19% y/y, and in areas outside cities by 12% y/y.
PLN 59.7 million net profit in the first half of 2023 - the highest half-year result since the beginning of PKO Bank Hipoteczny's operations
IOver the last 10 years 1.7 million apartments have been built in Poland. The share of new construction in the total stock is on average 11.3%, so there has been a noticeable renewal of the stock.
The Pulse of Real Estate: Return to normality in the tourist apartment rental market
The holidays have begun - a harvest time for the accommodation industry, as well as for private investors in the short-term rental market.
The Pulse of Real Estate: Foreigners are more active on the Polish residential market
The year 2022, despite a generally strong decline in sales on the residential real estate market, was distinguished by a strong increase in the share of home purchases by foreigners.