Apartment sales in biggest cities down 11% y/y in 2018 – report

Developers sold a total of 64,800 apartments in the six biggest residential markets in Poland – Warsaw, Kraków, Wrocław, the Tri-city, Poznań and Łódź – in 2018, which marks an 11% decrease on the year 2017 and is the second-best result in the entire history of the country’s housing sector, according to the latest report by Reas|JLL Residential Advisory. The aggregate value of those transactions was just 4% lower than in 2017 with the average apartment price in the six analyzed markets having grown by 11% (the figure for Warsaw is 13.3%) last year, the study said. The number of new apartments put up for sale by developers in 2018 amounts to 65,700.