The Supreme Audit Office will audit loan subsidies. Katarzyna Pełczyńska-Nałęcz shows how apartment prices have increased
“The Supreme Audit Office will audit the Safe Credit 2% program.” — Katarzyna Pełczyńska-Nałęcz, Minister of Funds and Regional Policy, announced on social media.
“At the end of August, I sent a letter on this matter to the then president, Marian Banaś. And there is a reply from the new president, Mr. Mariusz Haładyj,” she wrote on the X platform.
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The Minister indicated that The Supreme Audit Office's work plan for 2025 includes audit activities in this area. “I am very curious about its results. The next stop in our timetable – completed. PS. I am attaching a illustrative graphic in case anyone does not know what this BK2% is about,” we read.
The graphic clearly shows that when the Sejm passed the law in the first half of 2023 (during the PiS government), apartment prices were rising, but slowly. Then the housing price index skyrocketed and in 2024 annual increases exceeded 25%. A few months after the 2% Safe Credit program was suspended. a long process of slowing down price growth has begun.
Safe Credit Program 2%. — what was it about?
Safe Credit Program 2%. was a government instrument of support for people buying their first apartment, which operated in Poland for several months from July 2023. It assumed state subsidies for mortgage installments for the first ten years of its repayment. The interest rate borne by the borrower was approximately 2 percent, and the difference between this interest rate and the actual market rate was covered by the state budget..
The program was addressed only to people who did not previously have any apartment, house or cooperative right to the premises, and were not co-owners of the property. The loan could be used both for the purchase of an apartment or house on the primary or secondary market, or for the construction of your own house. The maximum loan amount was PLN 500,000. PLN for singles and PLN 600,000 PLN for married couples or people raising at least one child, and there was no price limit per square meter of real estate.
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The own contribution could amount to a maximum of PLN 200,000. PLN, and its lack could be made up thanks to another program called “Mieszkanie no own contribution”. Installment subsidies included only loans taken out for a minimum of 15 years, in PLN, with a fixed interest rate, offered by banks participating in the program through Bank Gospodarstwa Krajowego.
The program enjoyed great interest, which led to the funds being quickly exhausted. In 2024 it was completed.
