Developers are building drastically less

According to data from the Central Statistical Office of Poland (GUS), developers completed 7,905 apartments in January. It's about 23.5 percent less than in January 2021. Developer companies indeed obtained more building permits than a year ago (by 3.1 percent), but at the same time, the number of flats under construction has drastically decreased. In January this year, it was 7,340 units, almost 41 percent less than a year earlier.

The drop in the number of flats delivered for use in January…