New residential developments are growing like mushrooms after rain. They do not bother them more difficult access to credit and dwindling resources on budget subsidies for buyers.
the boom has been going on for more than three years, the effects of which are becoming more tangible. The number of completed dwellings is the highest in seven years.
The latest CSO data again showed that pessimism is the native state of a foreign developers. In July this year. they started to build 6.5 thousand. apartments. This is only 2.7 percent. less than in the same period last year. You can better evaluate the data from the period from January to July. For seven months of this year, developers began to build 49.1 thousand. apartments. That’s about 4.8 percent. more than seven months of last year, and also the most in history.
Many also issued building permits. Only new decisions in July allow for the construction of another 8.4 thousand. premises. That’s about 7.3 percent. more than in the same period last year. For seven months were issued to developers building permits 57.7 thousand. housing, an increase of 12.4 percent. more than in the same period last year.
Banks your and your sales office
Why are developers so readily expand the scale of their activities? All because Poles collectively moved to the sales offices of developers and buy the most units ever. Companies must therefore introduce new projects, so that customers have to choose from.
The problem is that the beating of another sales record in the end will have an end, and not difficult to find the announcement, which will soon make it difficult for life to developers and their clients. First, starting in January 2017. Banks will require 20 per cent. own contribution when buying an apartment on credit. To quickly end the money from the program apartment for Young , banks tighten lending criteria housing, and customers are less likely to be after not report.
– If this were not enough, the government announced the construction of affordable housing for rent with rent rates often twice lower than the market (part of the program flat Plus). Thus, investors who are thinking about renting expose themselves to competition from state-owned behemoth. As a result, you can expect that at the end of this year a positive effect on the sale of apartments will influence the fear of the growing demands on their own contribution – – says Bartosz Turek with Lion’s Bank.
At the beginning of 2017 years sales will increase while running about 336 million zł for subsidies to loans. – These they run out probably in 2-3 months. Then, almost without drip, sales developers may deteriorate – predicts expert.
Note! Continues overhaul
The latest CSO data also shows dynamic growth in the number of dwellings put into use. This is good news for companies called. finishing works, and no less important for the stock market investors. Accounting standards provide that, in their revenues developers show the effects of the housing built and delivered to customers.
In July this year. developers to use the distance of 5.8 thousand. premises. It’s about 18.3 percent. more than in the same period last year. Looking at the data from the beginning of the year, developers have finished the construction of 40.6 thousand. housing, an increase of more than 40.8 percent. more than in the same period last year. A higher score was recorded only once – for seven months of 2009 were completed 43.7 thousand. new apartments. It is only about 2.1 thousand. more than in the current year, and it is worth noting that such a high score before the seven years is the result of the pre-crisis boom.
Trends in the housing sector
GUS presents data on housing divided investors into four categories: individual investors, developers, cooperatives, other investors (municipal construction, company and social rent housing).
the entire housing sector results largely depend on the listed by developers. In July, 2016. Permits were issued for the construction of 18.3 thousand. apartments, started the construction of 15 thousand. premises, and was put to use 12.2 thousand. apartments.
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