![Forecasts for the real estate market. Look for opportunities. There will be many because inflation keeps prices down and weakening creditworthiness weakens demand [9.11.2022]](https://d-art.ppstatic.pl/kadry/k/r/1/8a/78/636a37da809ba_o_original.jpg "Forecasts for the real estate market. Look for opportunities. There will be many because inflation keeps prices down and weakening creditworthiness weakens demand [9.11.2022]")
The housing market will soon face a reshuffle. We should expect dips next year, but it’s hard to say what exactly we will see. On the one hand, house prices are constantly being strengthened by rising inflation, but on the other hand they are hampered by decreasing customer creditworthiness.
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The situation in the housing market is changing dramatically due to cyclical increases in interest rates. The effect of NBP activities is, among other things, a sharp reduction in the creditworthiness of Poles.
Statistics provided by PKO BP show that in the period January-April 2022 the value of loans granted for the home decreased by 15.5%. y / y At that time, the number of loans granted also decreased, by 24.8%. y / y According to PKO experts, the declines are mainly due to the deterioration of consumer confidence and the lower creditworthiness of households.
In May of this year. the value of mortgage surveys fell by 51.1 per cent. y / r and this is the lowest reading ever.
– Currently, the biggest problem in the real estate market is getting financing from clients who don’t have cash. Those who do not allow themselves to be discouraged by the high interest rates often have to postpone the purchase of the premises due to insufficient creditworthiness, which decreases from month to month. Consequently, for developers, investment costs increase and the number of consumers who have real purchasing power and can afford to buy a fixed price decreases, says Karolina Opach, sales manager at Q3D Locum.
Lower customer demand has very serious consequences for developers, who are already facing a significant drop in sales of built properties.
