Buyers get dibs on apartments from developers

Developers operating in Poland's seven largest markets (Warsaw, Krakow, Wroclaw, the Tri-City, Poznań, Łódź, and Katowice) sold in January 2023 as many as 3,300 apartments, 2 percent more than in December, according to Otodom Analytics data. Potential buyers' activity also increased. The number of searches for apartments for sale on Otodom increased by 39 percent m/m and 10 percent y/y. Those who can, are booking apartments "for later."

The whole of the past year 2022 passed in the primary residential market under the sign of a clear deceleration – both on the demand and supply side. However, there are many indications that the pause in interest rate hikes and the deceleration of inflation in the last quarter of last year resulted in greater optimism among buyers. January 2023 was another third consecutive month of sales growth in the primary market. Developers operating in the seven largest markets improved their results by just 2 percent m/m, but this was 50 percent higher than in August, the worst sales month of the past year.

(WBJ)