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Flats for sale – offer prices, May 2023. Katowice as a growth leader – report

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Flats are slowly getting more expensive. At least that’s what the analysis of offer prices shows, which have increased on average by 4 percent since the beginning of the year, according to a report by Expander and Rentier.io. According to experts, the reason for the improvement in market sentiment is the launch of the Safe Credit 2 percent program. A clear leader in price increases is Katowice.

The authors of the report, after analyzing the advertisements, pointed out that the offer prices of flats in May, compared to April, increased slightly, by 0.4 percent. “In total, since January, the increase has been 4 percent and among the 17 cities surveyed, as many as 15 have recorded increases” – we read.

Katowice is the leader in the increase in the offer prices of flats

The authors of the report emphasized that the very high change in prices in Katowice attracts special attention. Within 12 months, the median of asking prices has increased there by more than one-fifth, i.e. 21 percent. “This was largely due to the 12% increase in May compared to April” – it was noted.

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It was explained that such a large increase in Katowice results from the recent introduction of many offers of new apartments with prices significantly exceeding previous levels. “For example, in one of the development investments, the average price is PLN 11,000 per m2. For comparison, the average price in this city in the last 12 months was approx. PLN 7,500 per m2. A large number of expensive offers significantly increased the price median” – we read.

KatowicePhotocon/Shutterstock

Other cities in which the offer price levels from a year ago were noticeably exceeded include Lublin and Wrocław – in both cases the increase in the median amounted to 4%.

On the other hand, there are still many cities where prices are still lower than a year ago. The authors of the report reminded that in May 2022 a price peak was recorded and in the following months prices began to gradually decrease. “Only since February this year, flats have been systematically more expensive, but on average they are only 1% higher than a year ago. We managed to make up for the decline in 9 out of 17 cities surveyed. As many as 8 out of 17 rates are still lower than in May 2022.” – indicated.

It is much cheaper than a year ago in Sosnowiec (-8%), Szczecin (-5%) and Częstochowa (-3%).

expander

Offer prices of apartments in Poland

According to the authors of the report, when it comes to forecasts for the coming months, further increases in offer prices are possible, “but rather small”. “We assume that, looking at the entire market, the growth this year will not exceed 10 percent. The Safe Credit 2 percent program is not able to cause a real boom on the market” – emphasized the experts, noting that it is addressed to a fairly narrow group of buyers.

At Kontakt 24 we are waiting for questions about Secure Loan 2 percent.

At the same time, the authors of the report noted that in the initial period there will be many applicants due to the so-called postponed demand. “Restrictions in access to mortgage loans have affected young people who are still in the early stages of their professional careers the hardest. For this reason, for many months such people could not obtain a loan and buy a flat. Now they will suddenly have such an opportunity, so they will probably take advantage of it” – rated.

Experts’ forecasts, however, show that “this increased demand will last for a maximum of 12 months. After that, it will fade away.” Therefore – in their opinion – the level will be crucial for housing prices interest rates. “If interest rates fall quickly to levels much lower than at present, there will be another wave of demand from other market participants. If, however, interest rates fall slowly or stay at the current level, housing prices will be stable or even return to slight declines” – we read.

Main photo source: Photocon/Shutterstock



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