Exploring the Booming Poland Real Estate Market: Opportunities and Trends
Hunting for apartments is no easy task. New data from RynekPierwotny.pl reveals that the pricing frenzy in Poland continues, with major cities setting new records.
In Krakow, apartments from developers have crossed the 15,000 PLN per square meter mark.
Krakow, where apartments from developers have crossed the 15,000 PLN per square meter mark.
Average prices per square meter for new apartments in the seven largest metropolitan areas in Poland increased by 10-28 percent year-on-year in September, according to preliminary data from RynekPierwotny.pl, as reported by ISB News.
The pricing frenzy in the primary real estate market persists. Developers are not only increasing apartment prices, but the most affordable options are vanishing rapidly from their listings. The ones that remain are experiencing a notable surge in price.
In September 2023, the average price per square meter for new apartments in Krakow surpassed the 15,000 PLN mark, while in Warsaw, which has been in a race to become the price leader among major metropolises, it reached 16,000 PLN. In contrast, Lodz saw price stabilization in September, and even a slight decrease was observed in the Tri-City.
In September 2023, the cities within the Upper Silesian-Zagłębie Metropolis saw a significant shift in the real estate landscape. The average price per square meter for apartments surged by a staggering 7 percent compared to the previous month alone. This sudden spike resulted in prices that were a remarkable 12 percent higher than those recorded in December of the previous year.
While observing double-digit growth in average property prices in cities like Wroclaw and Poznan may not come as a surprise, it's important to highlight an intriguing trend. Following a rapid increase in property prices during August, there was a notable deceleration in September, with these metropolises experiencing only a modest 1 percent price increase.
It's worth recalling that in August 2023, there was an almost twofold increase in the number of granted housing loans compared to the previous year.