19:59 26 April 2022
Housing gap could at least double because of war
The gap in the housing market may have doubled due to the war in Ukraine, says Mateusz Bonca, head of the JLL company, which deals with, among others, advisory services on the real estate market in Poland. According to him, the Polish housing market was not balanced even before the outbreak of the war in Ukraine. The war and the related influx of refugees only strengthened this trend.
"Even before the war, we estimated the gap in the housing market at 150,000-200,000 flats," Mateusz Bonca said.
The head of JLL Poland calculated that – based on statistics from other armed conflicts – in Poland, 10-30 percent of refugees from Ukraine may decide to stay, i.e. 200,000-600,000 people.
"Such a large group of people will be looking for housing in Poland," he added.
According to the president of JLL, the demand for housing from refugees will be one of the factors supporting high real estate prices this year.
"Markets are always looking for a certain balance, and the increase in construction costs also has a large impact on real estate prices. The availability of land and administrative constraints also pose challenges, which slow down the investment process. It is therefore difficult to find factors that could cause a drop in prices," Mateusz Bonca noticed.
