Apartment prices grow 8-27% y/y in major cities in 2023

In Q4 2023, the average price per square meter of apartments offered by developers increased quarter by quarter in all 7 major Polish cities. The highest rise, 10% QoQ, was in Tricity, while the lowest, 1%, was in Wrocław. Year-on-year, prices for 2023 surged between 8% (Łódź) and 27% (Tricity). The introduction of the 'Safe 2% Credit' by banks in July accelerated prices in most cities, except Łódź.

Warsaw topped the list with an average price exceeding 16,700 PLN/sqm by December 2023. Experts note a shift in buyer sentiment, regretting delayed purchases, and warn of a potential market slowdown in 2024.

Source: inwestycje.pl