Housing costs in Poland up 23% y/y

The cost of maintaining an apartment in Poland in the 12 months to August 2022 increased by 23 percent y/y. This is several times the change recorded a year earlier, the Heritage Real Estate (HRE) think-tank reported on Friday, citing Eurostat data. Analysts predict further cost increases.

According to data from the Statistical Office of the European Union (Eurostat), in the 12 months to August 2022, maintaining and furnishing an apartment in Poland cost 23 percent more on average than a year earlier, the HRE think-tank reported.

"This is a big change, because if we consider the same months, but from 2020 and 2021, it turns out that at that time the increase in costs was less than 6 percent," HRE experts Oskar Sękowski and Bartosz Turek stressed.

"Everything has changed dramatically by leaps in the prices of fuel (200 percent y/y), electricity (40 percent y/y), or, for example, gas (38 percent y/y)," the analysts said. 

They also pointed to significant increases in the cost of sewerage services, water supply, or services related to running a house or apartment.

(PAP)