19:54 10 February 2024
A queue for residential plots in Warsaw
Recently, there have been major changes in the investment land market. The expectations of plot owners are still high, however nowadays, buyers are willing to pay more for plots that are prepared for the construction of multifamily housing projects. When an attractive plot of land comes up for sale, many people are willing to buy it. Developers are actively looking for land because the demand for apartments, stimulated by government subsidies, is not decreasing and the market offer of new apartments is becoming increasingly meager.
“The most sought-after is land on which construction can be started quickly, located in places with developed infrastructure. Such plots are extremely rare now. If they appear on the market, the offer is repeatedly outbid. Recently, a plot of land of less than 5,000 sqm located at Cynamonowa Street in Warsaw's Ursynów district, was auctioned for over PLN 82 million. The buyer paid more than twice the asking price. Warsaw sees plot purchase transactions of record value. The land is bought for over PLN 150 million. For instance, in Wrocław, a plot of land measuring several thousand square meters was sold for over PLN 50 million,” Bartłomiej Zagrodnik, Managing Partner, and CEO of Walter Herz, said.
(WBJ)
