The boom on the housing market is in full swing. In the second quarter of this year, most transactions concerned real estate in the 35-50 square meter range. According to a report by Metrohouse and Gold Finance, every third buyer of an apartment in Warsaw had to pay over PLN 12,000 per square meter.
According to the Metrohouse Barometer and Gold Finance, for the second quarter of this year, the demand for flats continued to grow, and low mortgage interest rates and financial surpluses encouraged clients to invest. The decreasing number of interesting offers also contributed to the increase in prices and lively decision-making by customers.
Flats for sale
In the second quarter of this year. there was an increased interest in houses and plots of land, but the first place belonged to apartments in the range of 35-50 m2. Taking into account the largest cities in Poland, these premises accounted for 36 percent. all transactions made between April and June.
The second place (29% of transactions) was occupied by properties with an area of 50-65 m2. As noted, in the same quarter of last year, premises of this size had 38 percent. share in total sales. According to the authors of the report, this shows the impact of rises in real estate prices on buyers’ preferences.
The third place belonged to much larger apartments, between 65-100 m2. It’s 18 percent. all transactions. The so far popular studio flats attracted mainly investors’ interest and accounted for 14 percent of the total. transactions – indicated the authors of the report.
Apartments for sale Warsaw – prices
In view of the constantly growing prices of flats in Warsaw, a significant increase in sales of flats with a price exceeding PLN 12,000 was recorded. PLN per m2. It was 36 percent. of all transactions in the second quarter of this year. In the same period of last year, such transactions accounted for only 14 percent. in general.
In other major Polish cities, 21 percent. the transactions concerned apartments in the price range of 8-9 thousand. PLN per m2. The second place was taken by premises for PLN 6-7 thousand. PLN per m2, and on the third – transactions with price parameters of 7-8 thousand. PLN per m2.
When it comes to the total transaction prices, the vast majority, i.e. 64%, are amounts in the range of PLN 200-400 thousand. zloty. This corresponds to the average amounts of loans for an apartment. According to Gold Finance data, in the largest cities – apart from Warsaw – we borrow an average of 311 thousand. zloty. – indicated in the report.
As emphasized, a significant percentage of purchases is still related to the need to allocate cash to the real estate market. Investment purchases account for 34 percent. secondary market transactions. The report notes that these are, however, only customer declarations, and in fact, the intermediaries’ observations suggest that there may be many more transactions of this type.
The authors of the report stated that the good financial condition of households is evidenced by the fact that purchases of a larger apartment are much more frequent than the purchase of a smaller apartment than before. The purchase of a larger apartment is declared by 17 percent. buyers, while only 1 percent. the transaction involves moving to a smaller property, it said.
People aged 30-40 still prevail among buyers of apartments on the secondary market. Such buyers are found in 41 percent. transactions and statistically buy one of the most expensive apartments, as evidenced by the average of 462 thousand. zloty. While such a price is not shocking in the largest cities, it should be remembered that when calculating it, the transaction from all locations throughout Poland was taken into account – emphasized Metrohouse.
Main photo source: Shutterstock