ATAL, a nationwide property developer, has launched a sales programme that targets those holding back
with their purchase, counting on a new package of government subsidies. Under the ‘Decision on instalments’ programme, they can choose a flat with a price guarantee now and make a final purchase decision in September.
In the meantime, they will increase the capital for the flat by regularly paying fixed amounts into an escrow account, which will improve their ability when applying for a loan. They also have the option to withdraw from the contract without penalty.
Although the form and timing of the new subsidies are not yet certain, some customers plan to take advantage of them. However, these individuals face a dilemma. Wait for the subsidies and risk a smaller selection of flats and higher prices? Or buy now, taking a loan without subsidies? Our programme is the optimal solution for them. It allows them to make a strategic decision in instalments, so to speak, and wait for the situation to develop,’ explains Angelika Kliś, member of ATAL’s management board.
Kliś also draws attention to the current market situation and its prospects, which buyers must take into account, including the limited supply of new flats. This includes the effect of the postponement of investments by many developers, as well as the popularity of the ‘2% safe loan’ programme. This has significantly reduced the availability of 2- and 3-room units in the price ceiling up to PLN 600,000, especially in the large cities where ATAL operates. Demand is also being driven by high wage growth, decelerating inflation and slightly lower interest rates, following their autumn reduction.
With such a balance of market forces, it is very likely that when customers go on a massive buying spree with the launch of the new programme, flats may become even more expensive, while the units they have bought will quickly disappear from the offer, argues a member of ATAL’s management board.
With the ‘Decision in instalments’ programme, customers do not run the risk of an increase, as they receive a guarantee that the price will not change. This means that, in the end, the customer will pay for the flat as much as it cost on the day they joined the programme. This makes it possible to plan the budget more precisely and does not force one to make decisions under time pressure or decreasing supply.
The programme introduced by ATAL also offers other benefits. During the period of its validity, customers declare systematic payments of funds for a selected flat and reserve it in the form of a developer agreement. At this stage, it obliges them to pay the first instalment in an amount not exceeding 20% of the transaction value (own contribution). Then, by the end of September 2024, in monthly intervals, they will pay equal amounts (depending on the type of investment and its stage of advancement), which will all go into a trust bank account dedicated to the chosen flat. In this way, they will accumulate more capital for the future, improve their creditworthiness and proceed to the subsequent financing of the purchase on better terms.
If this money serviced a classic loan, a large part of it would be taken up by the interest instalment. Here, they are fully included in the value of the flat,’ stresses Angelika Kliś of ATAL’s management board.
At the same time, the programme does not close the way for customers to apply for a state loan subsidy once its rules are officially known. Ultimately, customers can also resign from their chosen ‘M’ and withdraw from the contract, in addition without incurring contractual penalties. The developer points out that all funds paid for flats in the programme go into trust accounts linked to specific investments. This is due to statutory regulations and ensures the security of the transaction.
It should be emphasised that even in the event of withdrawal from the purchase, the customer will receive the entire amount paid back and the flat he or she has pre-booked will return to the offer This money serviced a classic loan, a large part of which would be consumed by the interest instalment. Here, they are fully included in the value of the flat,” explains Angelika Kliś.
The ‘Decision on Instalments’ housing programme will be in force until the end of September. The programme covers the majority of the developer’s projects under construction. Detailed information is available in ATAL’s flat sales offices in seven regional centres across Poland. The rules of the programme can also be found there.
The rules of the programme. The rules of the programme are described in four simple steps on the websites of the investments and on the company’s home page.
