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real estate. An increase in rents for renting an apartment – the rental market. Expert comments

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The offer on the rental market has been stormed by people, said Katarzyna Kuniewicz, market research director at Otodom Analytics, on TVN24 BiS. On the other hand, Marek Wielgo, an expert on the marketplace.pl and gethome.pl portals, said that as a result of Russia’s invasion of Ukraine and the refugees arriving in Poland, there was a very sharp drop in the number of rental offers, which in some cities amounted to 40-50 percent. Poland was ranked second in the EU in terms of the increase in rents, according to the experts of the marketplace.pl portal, based on Eurostat data.

– First, we had a situation in which the offer of apartments for rent fell sharply and it was the end of February, March. We know why – the war, the refugees who came here. And this hole in terms of the number of apartments on offer was huge, unprecedented – explained Kuniewicz.

Rental prices in Poland

In her opinion, in “some of the largest cities” the decline in the number of rental offers “reached 70 percent.” – This naturally meant that the apartments that remained were the most expensive and the price calculated on such a set clearly showed that it was higher. The average was already higher.

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She indicated one more reason for the increase in rental costs. – Together with what was happening on the rental market, we have a situation on primary market and credit constraints. So we had a situation in which the offer on the rental market was stormed by people interested in apartments for rent – noted Kuniewicz.

Housing estate (illustration photo)Photocon/Shutterstock

– Imagine that in November 2020 there were over 112,000 apartments for rent on the market. Currently, it is only 58 (thousand). (…) Demand for apartments for rent started in 2020 after the pandemic period, when students returned to universities, when this market began to develop, tenants returned again. It was that first moment. War in Ukraine – very rapid (decrease in the number of rental offers – ed.). In some cities, a 40-50 percent drop immediately – said Wielgo.

He explained that later “offers started to come, but then we had students again and as a result the supply is not enough.”

– In addition, problems with creditworthiness, the inability to take out loans mean that young people in particular cannot afford to buy an apartment for the time being, they simply rent it out – said the expert.

A lot about the rental marketTVN24 BiS

Rents for apartment rentals have increased

The Association of Developers (PZFD), citing data from the Otodom portal, informed that in the third quarter of 2022, on average, 32.2 percent. rents for two-room apartments with an area of ​​40 to 60 sq m increased. “Lease rates in Warsaw (comparing November 2021 to November 2022) increased by 21 percent, in Wrocław it was 32 percent, in Kraków 40 percent, in Łódź 41 percent, and in Rzeszów as much as 43 percent” – stated in the commentary.

Read also: There is a shortage of flats, drastic increases in rents. Developers with a difficult market situation >>>

On the other hand, experts from the marketplace.pl portal calculated, based on Eurostat data, that from November 2021 to November 2022, housing rents from various countries of the Old Continent increased the most in Lithuania (30%), in Poland (18%), Estonia (15%) and on Hungary (14%).


Read also: Tax 29 times higher. Business owners are less profitable >>>

Main photo source: Shutterstock

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