For the first time in history, the price of a square meter of an apartment on offer in Warsaw exceeded PLN 12,000 – at the end of June 2021. Compared to the end of 2020, it was 7.8 percent more, the consulting company CBRE said in a statement, citing the latest data from redNet Property Group.
12.8 thousand people found their owners. premises, which is almost a third more than in the previous six months. At the same time, the number of apartments for sale decreased by 30.2 percent. – wrote in the Tuesday announcement from CBRE.
Prices on the housing market in Warsaw – how much is a square meter?
– The decreasing number of new units for sale and the rapidly growing prices are the most important effects of the pandemic on the Warsaw housing market. The size of the offer in relation to the number of transactions concluded indicates that currently the demand greatly exceeds the supply. The interest is not decreasing, and developers are reporting problems with delivering new projects to the market, said Agnieszka Mikulska, an expert in the housing department of CBRE, quoted in the announcement.
The data presented in the company’s information shows that in Warsaw from January to June this year. developers introduced 9,892 flats to the market. That’s 22.3 percent. more than in the same period last year when the market was most affected by the effects of the pandemic. However, this was not enough to meet the demand. At the end of the first half of 2021, the offer included 11.3 thousand. flats, i.e. by 30.2 percent less year on year and 21.1 percent. less than half a year earlier.
As stated in the CBRE release, demand returned to pre-pandemic levels in the first half of 2021. From January to June this year. 12,802 apartments were sold in the capital, i.e. 30.5 percent. more than in the previous six months and 62.4 percent. more year on year.
Apartments in Warsaw – the situation on the real estate market
– Importantly, the number of units currently on offer would be enough for less than six months of sale, while maintaining the demand at the current level. And there is little indication that the enthusiasm of buyers will decline – indicated in the press release.
In the first six months of this year. the prices of flats on offer in Warsaw were rising. At the end of June, for the first time in history, they exceeded 12 thousand. PLN per sqm. and amounted to an average of PLN 12,184 per sqm. That’s 7.8 percent. more than at the end of December 2020 and by 9.3 percent. more year on year.
“The average asking prices of flats sold were also higher and higher. In the first quarter of this year, they were on average PLN 10,656 per sqm, and in the second quarter of this year – PLN 10,978 per sqm. In turn, the average prices of flats launched for sale in the first quarter of this year were PLN 11,177 per sq m, and PLN 11,078 per sq m in the second quarter. If the demand remains high, further pressure on price increases is possible “- it was estimated in the Tuesday press release.
CBRE Group is the world’s largest consulting company providing services in the field of commercial real estate and investment (based on revenues from 2019).
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