Poles took out a near-record amount of mortgages in 2019, amounting to a total of €15.3 billion, according to the Loan Information Bureau (BIK).
During 2019, the value of mortgages also increased by over 15 percent, which is much more than was expected by (BIK).
BIK had previously forecast the increase to amount to a maximum of 8 percent, but it had underestimated the market’s potential, and in particular, the increase in the price of housing in 2019.
Lead BIK analyst, Waldemar Rogowski, explained that 2019 was a record year in terms of the value of average salaries, and given the historically low interest rates, it allowed Poles to significantly increase the amount of mortgages they took out.
Migration costs France approximately €25 billion a year, many migrants remain unemployed even after years: academic
Only one third of migrants to France have found a job
Report: Poles are exiting the pandemic with higher wages and savings
Experts claim that recent data on savings, wages and industrial production in Poland has “exceeded their wildest expectations” and is “skyrocketing”
Analysts expect double-digit Hungarian GDP growth for the third quarter
But the second wave of the pandemic will result in a double dip
Czech citizens are increasingly worried about their economic future: study
Czechs expect the economic situation to even worsen
Central Europe is becoming wealthier than Italy and Spain due to pandemic
Spain and Italy are suffering the most due to covid crisis
Angela Merkel Coronavirus economy Emmanuel Macron EU budget European Union France Germany Hungary Ursula von der Leyen Viktor Orbán News EU leaders agree on €540 billion rescue package, clash over recovery financing
Deep divisions remain in Europe over how to fund.an economic recovery
LOT Polish Airlines backs out of purchase of Germany’s Condor
LOT Polish Airlines puts it ambitious expansion plans on hold due to the coronavirus crisis
Poland’s furniture industry on verge of collapse over coronavirus
Polish furniture producers are making desperate appeals to the government for aid as European trade comes to a halt due to the pandemic
Hungarian President signs labor law amendment
Hungarian President János Áder signed an amendment to the labor law allowing longer overtime hours which triggered several days of protests in the country.
Wizz Air reduces 2018 profit expectations
Geneva-based budget airline Wizz Air reduced its full-year profit forecast due to higher fuel prices and a summer strike of airport employees, Origo reports.
Polish national brand is worth US$650 billion
The Polish national brand is 23rd in the world and 7th in the EU, according to Brand Finance. With a net worth of US$650 billion, it is ahead of countries such as Hungary and the Czech Republic, but behind Germany and the USA.
