More loans but less in currencies

In the first quarter of this year the value and number of newly granted housing loans increased – minimally in quarterly terms and very significantly in relation to the year. Yet again the share of loans in foreign currencies in the total value of newly granted housing loans went down in a row.

The SAMRON-SARFiN report is a nationwide report on housing loans and real estate transaction prices, developed at the Polish Bank Association in cooperation with the SAMRON Center, the Property Financing Committee of the Polish Bank Association and prof. SGH Jacek Ɓaszek.

 

More newly granted housing loans

housing loans

According to the data contained in the report in January-March this year. the value of newly granted housing loans amounted to $ 12.252 billion. and was by 0.12% higher than in the period October-December 2010 and by as much as 24.9% higher than in the corresponding quarter of last year. In turn, the number of newly granted housing loans amounted to 57.578 thousand. and was by 1.16% higher than in the period October-December 2010 and as much as 19.16% higher than in the corresponding quarter of last year.

 

Less and less among them currency

home loan

The SAMRON-SARFiN report also shows that in January-March this year. For the third quarter in a row, the share of foreign currency loans in the total value of newly granted housing loans fell. IN Q1 this year it was only 19.4%, compared to 23.4% in Q4 2010 and 22.8% in the same period last year. We will get even more difference by attaching the latest data to those for all previous years. In 2010 it was 25.4%, in 2009 – 27.2%, and in 2008 – as much as 70.0%.

In the period of January-March this year. loans in euro accounted for 13.2% of all newly granted housing loans (17.3% in 4Q), loans in Swift frances accounted for 6.1% (unchanged), and those in the dollar accounted for 0.1% total lending (0.0% in the period October-December last year).

Data for the first quarter of this year regarding the further decline in the share of loans in foreign currencies in the total value of newly granted housing loans are not surprising to us – we already pointed it out in March. The next recommendations of the PFSA have done their part, and the possibilities of Poles taking foreign currency loans in banks are becoming smaller. Our estimates from the first half of April this year indicated that in Q1 the share of Swift frances loans in the entire market fell to 5.7% from 6.1% in Q4, but as you can see it has not changed. We got quite well shot up, however, with a significant decline in the share of loans in euros, which we forecast for the entire market at 12.6%, which is even lower than reported today.

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