Secondary market for real estate - September 2009

The average interest rate of mortgages in PLN in the beginning of October is statistically lower than a month earlier. It is equal to 6,96% compared to 7,29% in September. The average margin is minimally lower than a month ago and 13 banks are willing to give a mortgage in PLN without any own contribution. The choice of mortgages in euro is wider in October. The average margin equals 3,5% and interest rate euals 4,49%. Banks expect own contribution on the level of below 10% for the morgages in PLN and exactly 10% for the mortgages in euro. A four-person family with income on the level of 3.500 PLN net can count on a mortgage up to 210 000 PLN. In comparison with September that shows a rise of around 18 000 PLN. Creditwothiness for a motgage in euro is eual to 144 000 PLN and is over 7 000 PLN higher than in September. Everywhere apart from Opole, the apartment prices were higher in September in comparison to the prices in September 2008. The difference is on the level of: from 1,1% in Lublin to 8% in Wrocław and 8,8 in Kraków. The prices have risen in 10 cities from august (from 0,1% to 2%). The prices fell during the last month in Warsaw (0,1%), Katowice (0,6%), Białystok (1%), Toruń (2,4%) and Lublin (0,8%). In the last 12 months the prices of houses with the area up to 150 m2 fell in Szczecin (3,4%), Wrocław (2,7%), Warsaw and Białystok (2%). A significant rise was noticed in Lublin +12%, Poznań +6,8%, Katowice 5,5% and Kraków 4,6%. In case of houses with the area varying from 200 to 300 meters the fall in the last 12 months was higher.