Prices of Apartments Skyrocket Due to „Bezpieczny Kredyt” Program

The housing market in Poland is experiencing a surge in prices, with apartments increasing in value by up to 80,000 PLN in just a few days. According to financial advisor Piotr Krochmal, the „Bezpieczny Kredyt” program has completely disrupted the market, resulting in a flood of interested buyers. Some individuals are even resorting to bidding wars and canceling reservations in order to secure a property.

One potential buyer named Łukasz shared his experience of viewing an apartment in Krakow. Despite the property being in a dilapidated state, with a foul smell and rooms in need of renovation, there were still many interested parties. However, the owner was hesitant to accept offers from buyers who intended to purchase the property using a mortgage, instead preferring cash payments.

The advertised price for the apartment was 620,000 PLN, but due to the high demand, the owner decided to hold an auction. Each interested party was asked to submit their maximum bid, and the owner informed the potential buyers of any new offers. Within just five days, the price had increased to 675,000 PLN, an additional 55,000 PLN.

According to analyst Piotr Krochmal, this situation is not surprising considering the impact of the „Bezpieczny Kredyt” program. The program has attracted a huge number of applicants, but the market lacks a sufficient supply of housing to meet the demand. This scarcity, combined with the program’s incentives, has resulted in skyrocketing prices.

Buyers are facing challenges due to the lengthy processing time for mortgage applications. Banks are overwhelmed with the number of applications and lack the manpower to handle them effectively. As a result, apartments are being sold to those willing to pay the highest prices, and buyers are growing increasingly desperate.

Despite the rising prices, there is no expectation for a decrease in the near future. The program’s budget is substantial, and with upcoming elections, the funds will likely be exhausted. Analysts predict that prices will continue to rise until the program’s funds are depleted.

In summary, the housing market in Poland is experiencing unprecedented price increases due to the popularity of the „Bezpieczny Kredyt” program. Buyers are facing intense competition, auctions, and rising prices. The market is anticipating further price increases until the program’s budget is exhausted.

Sources:
– Wirtualna Polska