The minimum wage has changed since July 2024 and is now PLN 3,261.53 net. Are you able to get a mortgage with this amount? It turns out that you can, but the amount is definitely not impressive. At current housing prices, you have to reckon with the fact that it may not be enough to buy your dream home and a really solid down payment will be necessary.
In these cities, housing prices have skyrocketed the most. The increases are shocking
Rising housing prices are a problem that affects almost all Polish cities. The inglorious podium is occupied by Warsaw (24.7%), (28%) and Wrocław (23.2%), but Łódź, Poznań, Gdańsk, Szczecin, Lublin and Katowice are not far behind either. In their case, we are talking about an increase from 11.9 to 20%. However, it is not only the prices that are an obstacle to buying a dream home, but also obtaining a loan. Despite the rising minimum wage, for many Poles taking out this type of loan is still impossible, because creditworthiness is decreasing. What money can you count on from the bank when you earn PLN 3,261.53 net?
How much mortgage can you get on the national minimum? You better sit down
You can calculate your creditworthiness with the help of bank calculators. For example, you just need to enter:
- how many people will repay the loan,
- what is their net income, i.e. net income,
- in what year was the oldest person repaying the loan born,
- the sum of monthly installments and other liabilities and the sum of account and credit card limits.
Assuming you were born in 1994, you receive the minimum wage of PLN 3,261.53 net, you live alone and you will repay the loan yourself, and you have no other obligations or limits, you can count on 145,405 PLN credit. If you spread it over 25 years and with a fixed interest rate for 5 years, the monthly installment will be around PLN 2,921. Of course, you should bear in mind that the amounts are estimated, depend on many factors and do not mean that you will receive one at all.. To get a real offer, it is worth consulting an advisor or going to .
Low earnings are not the only problem when taking out a loan. “Cosmos”
At current housing prices, a loan of PLN 145,000 may be a drop in the ocean of a potential buyer’s needs. It turns out, however, that even obtaining it is the tip of the iceberg.
A little over 3200 zlotys in salary and a loan with an installment of 2900 zlotys? Vegetation mode activated. Besides, how much of my own contribution would I have to have to buy an apartment with 145 thousand from the bank? Ridiculous.
– said our interlocutor Emilia from Katowice, where apartment prices have also increased significantly recently.
I don’t know what’s harder. Getting a loan, paying it off with current earnings and prices, or finding an apartment. After all, good offers are hard to find, and even if they appear, they disappear before I can call.
– complains Karolina from Tarnów, where she left Krakow, which was made easier by working completely remotely. As you can see, earnings are not the only problem when buying a flat. Finding the right place can be an equally big challenge. If you’d like, please vote in our poll below.
Source: Gazeta
Bruce is a talented author and journalist with a passion for entertainment . He currently works as a writer at the 247 News Agency, where he has established himself as a respected voice in the industry.
