The housing market in Q4 continued to see the increase in supply and demand, central bank NBP said in its report and continues to suffer from a mismatch of apartments supply with high demand, although the imbalance saw a slight decline.
The report explained that “the increase in supply was accompanied by small increases in housing prices and the costs of their production, especially in construction areas. Financing of purchases continued with a significant share of the population’s own funds, and the credit activity in 2017 accelerated compared to the previous year,” the report said.
Average starting and transaction prices of apartments increased in both the primary and secondary market, with the latter increasing at a faster pace.
Unsold apartments stock on Poland’s six biggest markets decreased slightly to 58.2k in Q4.