Mortgage numbers to increase

28th May 2011

The housing market is expected to rise this year

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Banks in Poland could lend out as much as PLN 50 bln in mortgages this year claims a new report by the Polish Bank Association.

According to TVN24, the number could overtake last year’s total figure of PLN 48.7 bln with the first quarter of 2011 showing a slight increase in both the number and value of loans handed out compared with the first and last quarter of 2010.

“We’re not jumping ahead just yet, but if current trends continue we estimate that the value of credit this year could reach as much as PLN 50 bln,” said Krzysztof Pietraszkiewicz of the Association.

The report states that in the first quarter of this year, 57,578 mortgage loans were granted by banks with an es ...

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