Pandemic year did not stop housing prices in large cities
23:35
Within a year from the start of the pandemic, housing prices in the 16 cities studied by Expander and Rentier.io increased by an average of 6.6 percent. Thus, the forecasts of declines during the economic crisis have not come true. The only city with lower prices than last year is Katowice ( minus 2 percent y/y). Rates increased in the remaining 15 cities. The record-holder is Sosnowiec, where housing prices are as much as 23 percent more expensive than last year. In turn, as many as 9 out of 16 cities recorded the highest prices in history.
Moreover, the situation on the mortgage loan market indicates that no drops in home prices should be expected in the coming months. Loans are so popular that some banks have been "inundated" with applications and had to implement measures to curb the inflow.
Among the largest cities in Poland, housing prices have reached record-high levels also in those cities where the pandemic has hit the rental market hard. In Warsaw, the average price increased to a record PLN 11,200 per sqm, in Kraków – to PLN 9,600 per sqm, and in Wrocław – to PLN 8,588 per sqm.
In Gdańsk, on the other hand, the new record is PLN 9,983 per sqm – so it is very close to crossing the barrier of PLN 10,000 per sqm.
Other cities with record rates are: Bydgoszcz, Gdynia, Lublin, Radom and Szczecin.
