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Michał Sapota at PAP housing market debate

Michał Sapota at PAP housing market debate

Have the pandemic and the war defeated the housing market or merely helped sift out the less efficient players? What impact might the government’s planned “Safe Loan 2%” subsidy programme have on the industry? These and other topics were discussed at a press conference organised by PAP on 16 March under the theme of “The Housing Market in the Face of Economic Challenges”. Two debates were held: “What does the Future hold for Property Development Businesses?” and “Housing Prices in the Light of the Economic Situation”.

Michał Sapota, owner of HREIT, participated as an expert in both debates.

- The world needs to take a breath and return to normality. Everyone needs a peace of mind. Investors can see that the situation is beginning to stabilise and this trend can be observed in the stock market in the shares of listed developers. The demand for housing is very high and if the stabilisation continues, good times will come for the economy as a whole – reckons the owner of HREIT.

Michał Sapota also praised the “Safe Loan 2%” project:

- The decisions concerning lending changes are good, as from July the market will see a large group of customers who have not been able to buy an apartment so far. This opens up a lot of opportunities for developers – he says.

Michał Sapota also stressed that developers, private home buyers and investors alike, are primarily interested in stability, not sudden spikes – and it is precisely sudden increases in housing prices that we can expect at times of real estate market recovery, especially if preferential loans become a reality.

Michał Sapota also expressed his position on investing in the property development industry:

- It always pays to invest in real estate. Certainly in land, certainly in housing (...) It is a hard asset, with intrinsic value, it does not evaporate like stocks or bonds. I think real estate is the biggest investment asset in the world. Demand is very high at all times, but it is about actual sales transactions. Both with regard to individual buyers and individual private investors, as well as large financial institutions, which took an interest in our market some time ago and, on the back of all these developments, have also suspended their purchasing decisions. I believe this will unfreeze slowly, and if the volume of these transactions grows, then developers will also respond by increasing the production of new housing. We are able to return to these levels, even 200,000 residential units per year (...) In the 10-15-year perspective, we are able to catch up with the EU average in terms of the number of residential units per inhabitant, but also in terms of increasing the floor area of residential units per inhabitant. We seem to be moving in a direction that means that within 9 to 12 months a cycle of interest rate cuts will begin, which would further strengthen our industry – and not just ours, because the whole economy needs it, but within the economy our industry would also benefit. I believe that we can cautiously forecast a systematic improvement in the industry.

***

source: PAP MediaRoom:

https://pap-mediaroom.pl/biznes-i-finanse/kredyty-napedzaja-rynek-mieszkaniowy

https://pap-mediaroom.pl/biznes-i-finanse/debata-o-rynku-mieszkaniowym-deweloperzy-ostroznie-optymistyczni

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