19:33 29 September 2026
NBP: apartment prices are stable, but in real terms they continue to fall
Poland’s housing prices across 16 major cities were broadly stable in the second quarter of 2026, according to the National Bank of Poland (NBP). Asking prices rose slightly, especially for new-build homes, while transaction-price growth remained low, suggesting limited demand. After adjustment for inflation and wage growth, most housing-price indicators declined, so prices fell in real terms despite nominal stability. Developers’ return on equity from residential projects was about 20%.
On primary markets in six major cities, developers took an average of 5.6 quarters to sell construction contracts, down from 6.5 a year earlier. Resale homes took about 1.5 quarters to sell, slightly longer than in the previous quarter.
