Łódź slowly becoming competition for Warsaw

The real estate market in Łódź is experiencing a real boom. Last year, the prices per square meter went up by over 20 percent and the forecasts assume that this trend will continue. This attracts both developers and individual investors. Especially that – despite the increases – apartments in Łódź are still much cheaper than in Warsaw, and investing here gives the potential for better returns on rent than in Warsaw. Interestingly, more and more Łódź residents decide to live in a hybrid model – work in Warsaw and live in Łódź.

"The Łódź market is currently one of the most dynamic markets in Poland. Currently, there are over 100 projects in active sales, and prices are rising by about 20 percent y/y. There is huge interest, both from individual customers from Łódź and other large cities, as well as from abroad," Dawid Wrona, sales director at Echo Investment, said.

The expert predicts that in the following quarters the increase of property prices in Łódź will be still on the level of a dozen or so percent a year. This will encourage investors to make purchases and will fuel further development of the Łódź market.

(Newseria)