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Polish “mortgages” still the second most expensive in Europe

FINANCEPolish "mortgages" still the second most expensive in Europe

By mid-2023, among EU residents, only the Hungarians had more expensive new housing loans than the Poles. It’s worthwhile to check how the situation looks now.

In the summer of 2023, the portal experts prepared an interesting comparison of average interest rates for new housing loans in the EU. From this comparison, it turned out that in June of the previous year, Poland had the second highest interest rates on “mortgages”. Higher interests were paid only by residents of Hungary. It is worth checking whether the EU ranking of interest rates for new housing loans looked different half a year later.

Just like six months before, the experts checked the average interest rates for new housing loans in the European Central Bank’s database. It should be noted that the results given in the table below concern new housing loans with all variants of interest changes.

The prepared comparison confirms that in December 2023, Poland still ranked second to last in terms of the average interest rate on new housing loans in the European Union. The only country more expensive was Hungary, just like six months earlier. Some consolation may be the fact that over 6 months, the average rate for Polish “mortgages” dropped from 8.59% to 7.67%.

It is also important to remember that the data from our country does not include the low effective interest rate for beneficiaries of the Safe Loan 2% program. Many such people will, due to subsidies, pay interest determined according to a rate of approximately 2.00% for the first 5 years of the loan. However, the contractual interest rate for preferential loans is currently much higher (usually over 6.90%).

Author: Andrzej Prajsnar, expert at

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