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Better times ahead for mortgage lending in Poland
“Improving economy, stable real estate prices and low interest rates will support growth in new mortgage lending in Poland in the years 2014-2016" explains Marcin Mazurek, Director of Inteliace Research, a consultancy.
• The expected recovery in the Polish economy in 2014-2016 is likely to benefit both residential construction industry and the mortgage lending sector as the purchasing power of individuals will increase. Stable real estate prices, low interest rates and a new government-sponsored program “Mieszkanie dla Młodych” are likely to boost new lending despite regulatory tightening taking place. Inteliace Research expect that the total outstanding value of mortgage loans at banks will increase 8% p.a. on average through 2016.
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