Bear market

According to the latest report from real estate consultancy REAS, there were 3,500 residential units delivered to the market in Q1 2008, compared with 6,300 units in Q1 2007.

Prices stabilized in the first quarter of this year at an average of zł.9,000 per sqm, around 15 percent higher than in Q1 2007. There was less speculative purchasing on the market in Q1, but REAS experts do not believe this will affect the sales rate of subsequent quarters throughout this year.