Prices in the Polish Real Estate Market
Prices in the Polish real estate market go up. Today, every third house in Warsaw is sold for more than 650,000 PLN. Developers predict prices increase even more in 2020. How the property market has been changing in Poland within the last year and how it will be changed ?
Average house prices in Warsaw in the period from August 2018 to August 2019 increased from 8,9 thousand PLN per square meter to more than 10 thousand PLN.
In Krakow during the year, the average price of apartments jumped from 7,150 PLN to about 8 thousand PLN, in Gdansk with 8,3 thousand PLN up to 9,1 thousand PLN per square meter.
Today, almost 2/3 of property sales in the capital of Poland start from 450,000 PLN. Experts note that the average rise of prices in Warsaw during the year is 13-15%. In 2020 prices will rise up again around 10%.
Not only the prices of the real estate market increase. Comparing to 2018, the minimum wage in Poland increased by 7,1%. In 2020 the minimum wage will be minimum 2450 PLN.
Currently, real estate in Poland is one of the most profitable investments in the European Union. In addition to this, Poland is considered as the leading country in Central and Eastern Europe in terms of value of transaction.