At the end of 2011, bankers feared that sales of mortgages would fall by up to 15 percent at the beginning of this year. This is because most banks stopped lending mortgages denominated in foreign currencies, while further limits were put on the government's Family on its Own mortgage-subsidy program and the regulator tightened lending rules.

But expectations of a drastic drop have proved to be exaggerated. Sales did contract, but not by as much as forecast.

In January, banks lent zł.2.02 billion, the lowest amount in 12 months, but the year-on-year fall was not even as large as 10 percent, Puls Biznesu reported.

Poland A.M.