Source: Bankier.pl
2007-04-11
Poles can not afford to repay loans for housing
Currently, housing prices in Poland are so high as to buy them can afford only persons above-average earners. Thousands of Americans today can not afford to repay mortgages. Soon a similar spiral of debt may fall Poles - warns, "Journal."
According to the newspaper, "in Warsaw and Krakow, housing prices are already so high that the purchase could afford only those earning above average. No wonder - the average price per square meter in the newly built premises here than 8 thousand zł. The amount of average loans is coming here to 400 thousand. zł, and monthly payments exceed two thousand. zł [...]. In cities, where prices are slightly lower for housing continues to become Poles earning the national average (about 2.6 thousand. Zł per month). That is, among others Wroclaw, Gdynia and Katowice. But there are gigantic mortgages high: the average thickness exceeds 200 thousand. zł. "
"Few can afford the loan, why banks increasingly extend the maximum period of loan. They've even those that agree to 50 years repayment. Balancing on the border of credit, however, walk a tightrope. In case of interest rate increases will be paying the debt because the problems. "- Writes the Journal.
The fact that interest rates translate to the situation of the borrowers, preferably by the example of the United States. U.S. central bank began in 2005, a series of rate hikes rates [...]. According to the American Association of Mortgage Banks late last year, nearly every eighth house bought in the U.S. credit banks tried to take in response to the untimely payment of installments. Poland may result in a similar scenario [...]" - warn "Journal".
In the past year, housing prices in major Polish cities have increased by 100 percent. The records are beating the prices of apartments in major Polish cities. Entered into by the Poles loans suffice to buying a property with less size of the property than it was six months earlier. As reported by a few days ago, "Legal newspaper" iIlość square feet of possible acquisitions in the fourth quarter of 2006, using a mortgage that was an average of 46 sqm. It is about 20 percent. less than a year earlier.
more information in the "Official".
Under: Radoslaw Omachel, Journal / www.dziennik.pl
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