Recently, there has been a lot of buzz in our country about the New Deal that the Government is going to introduce and that is supposed to help our economy recover from the crisis caused by, among other things, a pandemic. One of the ideas is the introduction of housing vouchers and guarantees of own contribution. What does this mean for the real estate market and how will it be affected?
The announced support for those wishing to buy an apartment may cause some people to withhold their decision to buy their dream home until the changes are enacted, i.e. roughly 2023. Unfortunately, this may lead to drastic increases in housing prices, which have recently been skyrocketing. Buyers will also be exempt from the down payment when taking out a loan, which will make it possible for young people in particular to buy apartments. Unfortunately, the lack of detailed news makes it difficult for developers to prepare for the new reality and the requirements that will apply. This may result in a reduced supply of real estate on the market for about the first two years of the new rules.
