The creditworthiness of Poles has dropped significantly. Alarming data

For example, a single person with a net income of approximately PLN 6,000 could obtain a loan for an average of PLN 422,600 in October. PLN - this is over 2 percent less than a month earlier. Childless couples from 8 thousand PLN net they could count on an average of PLN 524.5 thousand. PLN - the decrease in their case amounted to approximately 3 percent. The smallest, although noticeable, decline affected 2+1 families with an income of PLN 10,000. PLN net - they obtained an average of PLN 603.1 thousand. PLN of the loan, i.e. over 1.5 percent less than in September.

Sharp descents, especially in large cities

The shrinking creditworthiness had hard-to-miss effects on the housing market. In the seven largest Polish metropolises, the number of premises that fit the average budget of a single person or a young couple has decreased dramatically.

Warsaw and Wrocław are the cities where the situation is the worst - the number of apartments within the reach of a single person decreased by as much as 26 percent month to month. In Kraków the decline was 22 percent and in Poznań 21 percent. For childless couples, Wrocław recorded a reduction in the offer by 22 percent - in Warsaw it was 19 percent, in Krakow and Poznań 14 percent each.

Families with children felt these changes to a slightly lesser extent, and the exception in the market was the region of Katowice and the Upper Silesian-Zagłębie Metropolis, where the offer of apartments for this group increased by a minimum of 1 percent.

Differences between banks and no prospects for improvement

Rankomat.pl data also show significant differences in banks' approach to borrowers. The range in available loan amounts reached as much as PLN 130,000 in October. PLN for singles, PLN 120,000 PLN for two-person households and over PLN 170,000. PLN for families with a child, depending on the financial institution.

According to Andrzej Fluderski, a credit advisor and GetHome Finance expert, a quick and significant reduction in loan costs should not be expected. The main reasons are persistent inflation, geopolitical tensions and economic uncertainty in global markets.

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