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Flats. Primary market. Real estate prices in the largest cities

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February showed that there is no shortage of people willing to buy apartments on the primary market. On average, you have to pay more than PLN 15,000 per square meter in Warsaw, Gdańsk and Krakow – according to an analysis by otodom.pl.

“February on the development market confirmed that despite the expiration of the BK2% program (Safe 2 percent loan – ed.), there is no shortage of people willing to buy apartments,” the analysis indicates.

It was added that “in the 7 largest markets in Poland, developers sold 4.6 thousand units, i.e. 9% more m/m and 17% more y/y.” The analysis stated that 4.7 thousand were introduced to the offer. apartments, but “it was not a record result in the last 12 months, but it is clear that in most cities the offer of apartments is recovering.”

Apartment prices on the primary market in the largest cities

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“In February, Krakow joined the group of cities where you have to pay on average more than PLN 15,000/sq m. Thus, alongside Warsaw (an average of PLN 16,500/sq m) and Gdańsk (PLN 15,100/ sq m) has become one of the most expensive locations in Poland,” we read in the analysis.

It was also written that when it comes to the seven largest cities in Poland, the cheapest is “still in Łódź, although here too, after breaking the limit of PLN 10,000/sq m in January, prices increased in February by approximately PLN 300/sq m.”

– Unfortunately, we do not have good news for those who are waiting for price drops when considering buying a flat. The conclusions from the analysis of apartment prices in developer investments put on sale in February in the largest Polish cities are clear. In all analyzed markets, apartments in projects introduced in February were more expensive than those already offered, said Katarzyna Kuniewicz, research director of Otodom Analytics, quoted in the release.

Apartment prices on the primary marketmedia.otodom.pl

Apartment market – changes on the supply side

“Greater changes were visible on the supply side. After a period of increased demand in the second half of last year, developers are still making up for the shortcomings in the offer,” the analysis said.

It was indicated that in February 4.7 thousand were put on sale in the 7 largest markets. new premises, i.e. by 12%. less than in January. “However, this is still a good result – the fourth highest in the last 12 months and as much as 139% higher than a year earlier,” it was emphasized.

“As a result, at the end of the month, the total developer offer in Katowice, Kraków, Łódź, Poznań, Tricity, Warsaw and Wrocław was almost 3% higher than in January and amounted to 41.2 thousand units. However, this is still 8% higher less than in February 2023.” – informed.

Main photo source: Holes/Shutterstock

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