The Role of Mortgage Loans in Financing Housing Investments in Poland

In highly developed countries the state of the building industry and real estate trade is a determinant of the condition of the national economy and the population's welfare. Housing investments ,including both the construction of new houses and flats as well as the modernisation of old housing substance ,are a flywheel of the whole economy and a factor stabilizing economic prosperity. And one of the basic conditions for the real estate market development is the expansion of a specialized financial sector able to fund such a market.A thriving market of housing and mortgage loans is the basic circumstance for the existence of a flexible ,therefore relatively efficient real estate market. The last years witness an increasing amount of loans in the financing of housing investments. The significance of mortgage banks will gradually increase on the housing loans market. However universal banks will still be the main player on the market of housing investments