15:58 21 August 2023
Apartment rents grow 8.5% y/y in July, Warsaw in the lead
The cost of renting an apartment is highest in Warsaw, where the average rent is a significant PLN 5,037, according to a report by Otodom. On the other hand, the lowest rent is found in Kielce, with an average rate of PLN 1,853. The report indicates that July saw an increase in average rental rates in all provincial cities, reaching an average of PLN 3,470, which is 1.5% more than in June and 8.5% more than the previous year. Warsaw experienced a record increase of 11.7% in rental prices compared to the previous year.
The cities with the highest rents are Warsaw, Tricity, Krakow, and Kielce, with varying levels of increase. The rental market is expected to be calmer this year compared to the previous one due to factors like the Ukrainian crisis, but still more active than in 2021. The Secure Loan 2% program might influence the rental market in Poland, potentially leading to a return of some rented properties to the market over time.
Source: 300gospodarka.pl
