Another record year for housing sector – Reas

A total of approximately 72,700 new apartments were sold in the six largest residential markets in Poland – Warsaw, Kraków, Wrocław, the Tri-city, Poznań and Łódź – last year, according to the latest report by Reas. The figure marks an over 17-percent increase on the previous year and is the best annual sales result to have been recorded in the history of the Polish housing sector.

The supply of new units also remained at a very high level; however, with some 67,300 apartments put up for sale in the period in the six markets analyzed by Reas, 2017 was actually the first year since 2013 in which developers were not able to match the growing demand.

As a result, the number of apartments on offer decreased from approximately 52,700 at the end of 2016 to around 48,200 at the end of 2017. Apartment prices grew up in most of the largest residential markets in Poland last year. According to Reas, the growing difficulty in securing attractive plots of land for new projects, whose prices have been on the rise, and the rising construction costs will be some of the major challenges facing developers in the coming months.

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