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Poland sees a surge in mortgage

Banks in Poland handed out over 55,000 mortgages in the first quarter of this year, up a hefty 23 percent compared to the final three months of 2017, according to a report.

Mortgages granted from January to March were worth nearly PLN 13 billion (EUR 3.03bn, USD 3.57bn) in total, said a report by the Polish Bank Association (ZBP).

Among the reasons for the rise in the number of mortgages were an increase in household incomes and low interest rates on loans, public broadcaster Polish Radio’s IAR news agency reported.

Last year, banks in Poland granted over 190,000 mortgages worth a total of PLN 44 billion, according to IAR.

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