Activity in home sales offices returns to pre-pandemic levels

The SARS-CoV-2 pandemic has temporarily shaken the development market. In April, the number of dwellings in which construction has begun dropped by almost 40 percent compared to last year, and statistics showed a declining interest in mortgage loans. However, the rebound is slowly visible – customers are returning to sales offices interested in buying an apartment. However, they should not count on large price drops due to coronavirus. What is worth paying attention to when buying is the position and financial situation of the developer, as well as timely implementation of the investment. There are no problems with the latter, because the pandemic did not stop work on construction sites.

“Since the outbreak of the pandemic, we have had to refrain from buying our apartments. However, this is a transitional period, because there is a shortage of flats in Poland – we only have approx. 380 flats per 1,000 of inhabitants, which is one of the lowest rates in Europe. Today, customers are coming back. We see more traffic in our sales offices, and website traffic has returned to pre-pandemic levels. In the current situation, apartments are the best way to invest and save money, which in the long run brings very fair profits,” Damian Kapitan, CEO of Budimex Nieruchomości, said.

In the last few years, the Polish real estate market has been in a continuous bull market phase, which was not stopped even by the systematic increase in apartment prices. Only last year, 207,200 apartments were commissioned, which meant 12 percent increase y/y. According to JLL in terms of sales, it was the second best year in the history of the development market. 

(Newseria)