- In 2017, only 30-40 percent. The apartments in the developers were purchased for cash
- Today, in most companies, this share has jumped to about 70%.
- Significant differences can be observed in the type of premises sold for cash and with the participation of bank lending
- Most often, larger 3- and 4-room buildings with an area of \u200b\u200b60-90 square meters are given out loans.
- For the money, on the other hand, studios and smaller two-room apartments for rent are often chosen
- More such information can be found on the home page of Onet.pl
outlet RynekPierwotny.pl So it systematically monitors the percentage of such purchases and their impact on the market condition. The first such survey was conducted at the beginning of 2018, and it concerned the situation in the previous year – 2017. The data set collected at that time clearly showed that Practically for all developers participating in the study, the range of cash contracts was in the range of 30-40 percent. And it was definitely progressive in nature compared to previous periods. Of course, some companies have indicated periodic deviations from this range up and down.
Meanwhile, a similar study conducted about two years later, in the first quarter of 2020, and just before the first local cases of COVID-19 were detected, showed that Compared to 2017, the proportion of purchases of new residential premises without participating in a housing loan increased by about 10 p. to the level of 40-50 percent Of course, during the first months of the pandemic, these ratios were periodically turbulent Stabilizes at a steady level of around 35% in 2021. Most developers surveyed.
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An “explosion” in the stats
This is the result of the latest survey conducted by the portal RynekPierwotny.pl back at the end of May this year. Among the most famous domestic developers. However, the most interesting statistics were not related to the past year, but to the months of this year, which – as the portal confirms – have already exploded.
Very similar data on cash housing purchases were sent by two market leaders – Ronson Development and Lokum Deweloper. in both cases The current percentage of cash transactions is about 70%, Which means it’s doubled compared to the previous year, when both companies had a 35% share of cash customers.
In turn, very accurate data on the topic was provided by another market dominant – the Murapol company. In this case, housing loan financed transactions amounted to exactly 58% in the period of low benchmark interest rates, and then fell in the first quarter of this year due to the sequential increase in the cost of domestic money. up to 37 percent so it’s easy to calculate that In Morabol, the proportion of contracts funded by cash is currently 63 percent.
Slightly different ratios were in place in the era of “zero” NBP rates at Develia, the fifth local residential developer by turnover in 2021. As it turned out, until the end of last year, the developer’s customers of cash and loans were more or less halved. There were only some differences in the type of building the two groups were interested in.
Meanwhile, since the beginning of 2022, also in Devilia, there has been a radical change in the proportions, as a result of which only 28 percent of the sold apartments are purchased with the support of a bank loan, ie. As much as 72 percent in cash.
The current share of cash transactions is around 70%. It also announced slightly smaller developers – Nickel Development and Constructa Plus. However, in the latter case, the advantage of cash purchase is not only applicable to recent months, but has been going on for a long time.
Interestingly, most respondents who participated in the survey of the RynekPierwotny.pl portal emphasized the presence of significant differences in the type of premises sold for cash and with the participation of bank lending. In the latter case, transactions with larger, family-run 3- and 4-room apartments with an area of 60-90 square meters were more frequent. For criticism, on the other hand, studios and smaller two-room apartments, up to 45 meters in size, were chosen, but better-located investment places for rent were often chosen.
Meanwhile, Ronson Development’s sales department has not noticed a similar dependency. In the case of this developer, regardless of the method of financing the transaction, the bestsellers were in the past, and are now apartments of the popular sector – one-room apartments with an area of \u200b\u200bup to 30 sq.
This type of situation, calculated in tens of percent of the share of cash transactions in housing, is not entirely normal or common in the global real estate market. Under average market conditions, that is, in conditions of average economic standards, the share of monetary transactions in the world is usually single-digit, and usually does not exceed the level of 10%. This was also the case in Poland during the first boom in 2006-2008.
On the other hand, the level of more than twelve percent of transactions without the share of mortgage loans in the past means a significant recovery in sales, typically caused by an increase in investment demand. Meanwhile, for several good years, every third domestic apartment was bought without credit, and at the moment it has already reached the level of more than two-thirds of cash transactions.
The problem is The currently observed hyperbolic increase in the volume of monetary transactions in the primary housing market does not mean an acceleration of the boom, but on the contrary – it is a symptom of a sharp contraction in the economic situation. Everything seems to indicate that this kind of situation may last for a long time, that is, until the next economic recovery, that is, perhaps for a little longer than a few months or even quarters of a year.
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