GUS publishes results describing scale of residential construction in Poland in H1 2023

The number of apartments completed in Poland by all entities involved in housing investments reached nearly 112,000 during the period from January to June 2023. A comparison with the same period in 2022 indicates a 2.5-percent increase, which may suggest a certain degree of stagnation. 

“However, let's not be misled by this slight increase. 111,900 apartments completed and put into use mark the best result for the ‘first half of the year’ in 20 years,” Katarzyna Kuniewicz, Director of Market Research at Otodom Analytics, pointed out.

The most significant impact on this result was from development companies, which completed the construction of 64,300 apartments (58 percent of the total completed), and individual investors, who built 45,700 single-family homes for their use. 

“Despite these undoubtedly exceptional results in the category of completed apartments, data on issued building permits and construction started in the first six months of this year present somewhat worrisome figures. The information that nearly 112,000 building permits were issued nationwide (which is only one apartment different from the number of completed apartments in Poland!) indicates a 35 percent reduction compared to the first half of 2022,” Katarzyna Kuniewicz added.

(WBJ)