Large apartments in Poland’s largest cities have risen in price by as much as 5-6 percent relative to Q4 2020, according to data provided by Bankier.pl’s Cenatorium.
The beginning of 2021 was marked by increases in the average transaction prices of large apartments. Average rates, which were included in notarial deeds regarding the sale of flats with a space exceeding 80 sq. m, increased in the quarterly relation by as much as 5-6 percent. In all of the analyzed cities, except for Poznan, the highest average prices were paid for the largest spaces.
However, due to less significant increases intertwined with corrections which took place in 2020, even in the case of the largest apartments only in two of the analyzed cities (Wrocław and Gdańsk) the annual growth exceeded 10%. For comparison, at the same time last year double-digit increases of average transaction prices in relation to the year were the norm, and in several cases, they exceeded even 20%.
Buyers of small apartments, including studios below 35 square meters, had more reasons for optimism in Q1 2021. Although even in the case of those units there were several percent increases in the quarterly relation, it was much easier to notice corrections. These took place in half of the analyzed cities: Łódź, Wrocław, Gdańsk, where rates dropped to the levels noted before the outbreak of the coronavirus pandemic, and also in Lublin.