Each square metre worth its weight in gold

According to data published by credit market monitoring agency BIK, May 2022 saw the lowest demand for mortgages in the last 15 years. Applications were fewer than half of those of the previous year (June 2021 to June 2022), while the average size of a mortgage increased by 2.9 pct. Due to the fact that the NBP has set inflation targets that are very different to what’s happening on the market and on shop shelves, it’s very likely that interest rates will continue to rise and that this will further sharpen banking policies and reduce the creditworthiness of buyers seeking mortgages to help them to buy real estate. In addition to this, in April the Financial Supervision Commission in Poland (KNF) recommended that banks should take measures to reduce their credit risk. One of the conditions that future borrowers are going face is that their monthly payments cannot exceed 40 pct of their earnings if they are in a low-income bracket (previously it was 50 pct) and 50 pct if they