Growth in the real estate market?
New records on the real estate market, and housing prices are still rising in most Polish cities. According to the analysis carried out by Expander Advisors, this is the highest increase in transaction prices since 2014.
New housing prices went up by 11% on average, while the secondary market is up by 10%. Although the availability of flats remains at a very good level, for some time we have been dealing with a constant increase in property prices as well as a growing demand for this type of so-called secure investment. In addition, the trend, which we can observe on the market, is the consideration of offers located outside the areas of greatest interest.
According to experts, 2020 can bring many changes on the real estate market. Along with the reduction in demand in the coming months, price growth will stop and a gradual return to pre-pandemic levels will occur.
On the other hand, however, the assumptions about decrease in prices suggested by experts are not so optimistic. According to which, the fall in demand will force developers to lower real estate prices, however, these reductions will not be as significant for consumers. And that will only temporarily hold the market at a stable point.
In terms of prices, real estate offered in Warsaw comes first, where a square meter on the primary market in March 2020 cost about PLN 9,969, and the most frequently purchased apartments were those from PLN 9,000-10,000. The most popular among buyers were the offers of apartments ranging from 35 to 50 sq m. At a price from PLN 400,000 to 600,000.