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Tuesday, November 28, 2023

Real estate. Apartment prices have increased again. More records were broken in September

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In September 2023, the average price per square meter of new apartments in Krakow exceeded the ceiling of PLN 15,000, and in Warsaw – PLN 16,000 – according to preliminary data from BIG DATA RynekPierwotny.pl. Experts indicate that in Łódź last month saw price stabilization, and in the Tricity there was even a slight decrease.

– Na primary market the price madness continues. Not only are developers increasing the prices of apartments, but the cheapest ones are quickly disappearing from their offer. Those that stay there are becoming more and more expensive – says Marek Wielgo, an expert at the RynekPierwotny.pl and GetHome.pl portals.

More levels broken

“For the average price per square meter to stop rising, developers would have to radically increase the supply of apartments in the popular segment, i.e. those built with credit customers in mind. It seems that in most of the largest Polish metropolises, September did not bring a reversal of the price trend. According to preliminary data from BIG DATA RynekPierwotny .pl shows that in Krakow and Warsaw the average price per square meter of apartments offered by developer companies increased by another 2%. – we read in the analysis of RynekPierwotny.pl and GetHome.pl.

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– Two months ago we reported that this average had exceeded the ceiling of 14,000 in Krakow. PLN per square meter. In September, another threshold was crossed – PLN 15,000. zloty. However, Warsaw still refuses to be pushed away from its leading position. Last month, the average price per square meter here exceeded the threshold of PLN 16,000. PLN – comments RynekPierwotny.pl and Gethome.pl expert Marek Wielgo.

Average apartment prices Rynekprimotny.pl

“The supply problem has most likely deepened there. Preliminary data from BIG DATA RynekPierwotny.pl shows that at the end of September in Krakow, the offer of developers’ companies included as many as 49% fewer apartments than nine months ago! However, in Warsaw the offer of premises has shrunk by 40 percent during this period. – we read.

As stated in the analysis, the Tricity is still in third place on the price podium, although after sharp increases in the average price per square meter in July and August, September brought a 2% increase. reduction. “Let us add that the offer of apartments in Tricity decreased by 25% over the year, but it increased in September compared to August. And this is probably the reason for the decline in the average price of apartments available in the offer of Tricity developers,” experts explain.

Łódź is an oasis of stability

The analysis emphasized that Łódź has once again shown that this year it is an oasis of stability among the largest metropolises. “And this is both in terms of the size of the offer and the average price of apartments. In September, it maintained the level from August. And most importantly for buyers of new apartments, the prices of apartments in Łódź have risen the least this year, ‘only’ by 5 percent.” – given.

‘Unfortunately, in September the cities of the Upper Silesian-Zagłębie Metropolis ceased to be such an oasis, where the average price of a square meter of apartments increased by as much as 7% from month to month! As a result, it was 12 percent higher. higher than December last year. The double-digit increase in the average in Wrocław and Poznań is not a surprise, although it should be noted that after the August price acceleration, in September we recorded “only” 1 percent in these metropolises. raise,” experts write.

“Coming back to Krakow, Warsaw and Tricity, we can already talk about a record increase in the average price per square meter since the financial crisis in 2008. Over the last 12 months, new apartments available from developers in Krakow have increased in price on the metro by as much as 28% on average. ., in Tricity – by 19 percent, and in Warsaw – by 18 percent. – say analysts.

Main photo source: Photocon/Shutterstock

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