15:36 11 November 2024
PIE: the increase in housing prices has slowed down
In Q3 2024, the growth in housing prices slowed for the first time since early 2023, according to the Polish Economic Institute (PIE). Year-on-year, secondary market prices rose by 18%, while primary market prices increased by 14%. The pace of growth decreased by over 5 percentage points in the secondary market compared to the previous quarter. Prices remained stable or slightly decreased in most provincial cities, with only a few cities seeing significant price increases.
The supply of new listings has been declining for two quarters, particularly in the primary market. PIE forecasts continued price slowdown and limited new housing supply in the coming months. Meanwhile, rental prices increased by 3% annually, with the largest growth seen in smaller and larger apartments.
(PAP)
